Panagora Asset Management Inc. Invests $1.29 Million in Dolby Laboratories $DLB

Key Points

• Panagora Asset Management Inc. invested approximately $1.29 million in Dolby Laboratories by acquiring 16,105 shares during the first quarter.
• Dolby's latest earnings report showed a quarterly EPS of $0.78, exceeding estimates, with a revenue increase of 9.2% compared to the previous year.
• Several institutional investors have made significant investments in Dolby, with 58.56% of the company's stock now owned by institutional shareholders.

Panagora Asset Management Inc. acquired a new stake in Dolby Laboratories (NYSE:DLB - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,105 shares of the electronics maker's stock, valued at approximately $1,293,000.

Several other institutional investors and hedge funds have also bought and sold shares of DLB. Palogic Value Management L.P. lifted its holdings in Dolby Laboratories by 6.3% during the first quarter. Palogic Value Management L.P. now owns 4,132 shares of the electronics maker's stock valued at $332,000 after purchasing an additional 244 shares in the last quarter. Vident Advisory LLC purchased a new position in shares of Dolby Laboratories in the 1st quarter valued at about $2,740,000. Magnetar Financial LLC grew its holdings in shares of Dolby Laboratories by 456.9% during the first quarter. Magnetar Financial LLC now owns 20,682 shares of the electronics maker's stock worth $1,661,000 after buying an additional 16,968 shares in the last quarter. Trexquant Investment LP acquired a new position in Dolby Laboratories during the first quarter valued at approximately $13,994,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Dolby Laboratories in the 1st quarter valued at approximately $932,000. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Up 0.8%

Shares of Dolby Laboratories stock traded up $0.55 on Monday, reaching $73.19. The company's stock had a trading volume of 216,253 shares, compared to its average volume of 432,114. The stock has a 50-day moving average price of $74.06 and a 200-day moving average price of $75.78. The company has a market capitalization of $7.01 billion, a P/E ratio of 26.82 and a beta of 0.93. Dolby Laboratories has a 52-week low of $68.24 and a 52-week high of $89.66.

Dolby Laboratories (NYSE:DLB - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $315.55 million for the quarter, compared to the consensus estimate of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.Dolby Laboratories's revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.71 EPS. Dolby Laboratories has set its FY 2025 guidance at 3.880-4.030 EPS. Q4 2025 guidance at 0.610-0.760 EPS. Sell-side analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Dolby Laboratories's dividend payout ratio is 48.35%.

Insider Transactions at Dolby Laboratories

In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 39,875 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $74.82, for a total value of $2,983,447.50. Following the completion of the transaction, the chief executive officer directly owned 114,725 shares of the company's stock, valued at $8,583,724.50. This trade represents a 25.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Shriram Revankar sold 7,000 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.92, for a total transaction of $524,440.00. Following the sale, the senior vice president directly owned 70,435 shares in the company, valued at $5,276,990.20. The trade was a 9.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,049 shares of company stock valued at $9,920,281. Corporate insiders own 38.39% of the company's stock.

Analyst Upgrades and Downgrades

DLB has been the subject of several research reports. Wall Street Zen upgraded shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $95.00 target price on shares of Dolby Laboratories in a research report on Friday, August 1st. Tigress Financial raised their target price on shares of Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a report on Friday, August 15th. Baird R W upgraded shares of Dolby Laboratories to a "hold" rating in a research note on Friday. Finally, Robert W. Baird started coverage on Dolby Laboratories in a research report on Friday. They set a "neutral" rating and a $74.00 price target on the stock. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.75.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.