Robeco Institutional Asset Management B.V. Increases Holdings in Dolby Laboratories $DLB

Key Points

• Robeco Institutional Asset Management B.V. increased its stake in Dolby Laboratories by 10.3% in Q4, buying 17,055 shares to hold 182,632 shares worth about $11.73 million, representing roughly 0.19% of the company.
• Analyst sentiment is mixed but positive overall—three Buys and two Holds with a consensus rating of "Moderate Buy" and a consensus target of $90.75—while Dolby recently beat Q4 EPS estimates ($1.06 vs. $0.99) despite revenue declining 2.8% year‑over‑year and pays a $0.36 quarterly dividend (~2.3% yield).

Robeco Institutional Asset Management B.V. lifted its holdings in Dolby Laboratories (NYSE:DLB - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,632 shares of the electronics maker's stock after acquiring an additional 17,055 shares during the period. Robeco Institutional Asset Management B.V. owned 0.19% of Dolby Laboratories worth $11,729,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Boothbay Fund Management LLC raised its position in Dolby Laboratories by 4.1% during the second quarter. Boothbay Fund Management LLC now owns 4,020 shares of the electronics maker's stock valued at $299,000 after purchasing an additional 157 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Dolby Laboratories by 1.1% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 15,733 shares of the electronics maker's stock worth $1,139,000 after purchasing an additional 170 shares during the period. Gabelli Funds LLC increased its position in shares of Dolby Laboratories by 0.4% during the 3rd quarter. Gabelli Funds LLC now owns 49,143 shares of the electronics maker's stock valued at $3,556,000 after purchasing an additional 202 shares during the last quarter. Hantz Financial Services Inc. increased its position in shares of Dolby Laboratories by 166.7% during the 3rd quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker's stock valued at $25,000 after purchasing an additional 220 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in Dolby Laboratories by 1.0% during the 2nd quarter. Raymond James Financial Inc. now owns 24,344 shares of the electronics maker's stock valued at $1,808,000 after buying an additional 235 shares during the period. Hedge funds and other institutional investors own 58.56% of the company's stock.

Analysts Set New Price Targets

DLB has been the subject of a number of analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of Dolby Laboratories in a research report on Friday, March 27th. Wall Street Zen cut shares of Dolby Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Barrington Research reduced their target price on shares of Dolby Laboratories from $95.00 to $90.00 and set an "outperform" rating on the stock in a research note on Monday, January 26th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $85.00 target price on shares of Dolby Laboratories in a report on Friday, January 30th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.75.

Insider Activity

In related news, SVP Shriram Revankar sold 3,000 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total value of $198,420.00. Following the transaction, the senior vice president owned 83,218 shares of the company's stock, valued at $5,504,038.52. This trade represents a 3.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Ryan Nicholson sold 2,667 shares of Dolby Laboratories stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $66.38, for a total transaction of $177,035.46. Following the sale, the chief accounting officer owned 36,956 shares of the company's stock, valued at $2,453,139.28. The trade was a 6.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 37.93% of the company's stock.

Dolby Laboratories Stock Performance

Shares of NYSE DLB opened at $61.92 on Wednesday. Dolby Laboratories has a fifty-two week low of $57.62 and a fifty-two week high of $78.28. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 24.97 and a beta of 0.86. The business's 50 day moving average price is $63.00 and its 200-day moving average price is $65.07.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.07. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The company had revenue of $346.71 million during the quarter, compared to analysts' expectations of $341.26 million. During the same quarter in the previous year, the business earned $1.14 EPS. Dolby Laboratories's revenue was down 2.8% compared to the same quarter last year. Sell-side analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 18th. Stockholders of record on Tuesday, February 10th were issued a $0.36 dividend. The ex-dividend date was Tuesday, February 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.3%. Dolby Laboratories's dividend payout ratio is presently 58.06%.

Dolby Laboratories Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company's core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby's licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.

Want to see what other hedge funds are holding DLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dolby Laboratories (NYSE:DLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.