Teza Capital Management LLC Acquires New Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Teza Capital Management LLC acquired a new stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 7,529 shares of the electronics maker's stock, valued at approximately $588,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Wyoming grew its position in Dolby Laboratories by 110.1% in the 4th quarter. State of Wyoming now owns 6,410 shares of the electronics maker's stock valued at $501,000 after buying an additional 3,359 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new position in Dolby Laboratories in the 4th quarter valued at $580,000. Point72 Asset Management L.P. purchased a new position in Dolby Laboratories in the 4th quarter valued at $438,000. Point72 Hong Kong Ltd acquired a new position in shares of Dolby Laboratories during the 4th quarter worth $277,000. Finally, ProShare Advisors LLC grew its stake in shares of Dolby Laboratories by 6.4% during the 4th quarter. ProShare Advisors LLC now owns 103,996 shares of the electronics maker's stock worth $8,122,000 after purchasing an additional 6,227 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Barrington Research reaffirmed an "outperform" rating and set a $100.00 price target on shares of Dolby Laboratories in a research note on Friday, May 2nd. Rosenblatt Securities lowered their price target on shares of Dolby Laboratories from $100.00 to $95.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Tigress Financial assumed coverage on shares of Dolby Laboratories in a research note on Thursday, May 15th. They set a "buy" rating and a $112.00 price target on the stock. Finally, StockNews.com cut shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st.

Dolby Laboratories Stock Down 0.9%

Dolby Laboratories stock opened at $76.89 on Tuesday. Dolby Laboratories, Inc. has a 52 week low of $66.35 and a 52 week high of $89.66. The firm's 50-day simple moving average is $76.48 and its 200 day simple moving average is $78.58. The firm has a market capitalization of $7.34 billion, a PE ratio of 28.27 and a beta of 0.95.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The electronics maker reported $1.34 EPS for the quarter, topping the consensus estimate of $1.29 by $0.05. Dolby Laboratories had a net margin of 19.97% and a return on equity of 11.32%. The business had revenue of $369.56 million for the quarter, compared to analyst estimates of $375.44 million. During the same period in the previous year, the firm earned $1.27 EPS. The business's revenue for the quarter was up 1.4% compared to the same quarter last year. On average, research analysts expect that Dolby Laboratories, Inc. will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 21st. Investors of record on Tuesday, May 13th will be given a $0.33 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.72%. Dolby Laboratories's dividend payout ratio is presently 49.81%.

Insider Buying and Selling

In other Dolby Laboratories news, CMO Todd Pendleton sold 18,121 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $83.75, for a total value of $1,517,633.75. Following the transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John D. Couling sold 675 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $75.04, for a total transaction of $50,652.00. Following the completion of the transaction, the senior vice president now owns 121,151 shares in the company, valued at approximately $9,091,171.04. This trade represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 38.39% of the company's stock.

About Dolby Laboratories

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.

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