Trexquant Investment LP Buys New Holdings in Dolby Laboratories $DLB

Key Points

• Trexquant Investment LP has acquired a new position in Dolby Laboratories, investing approximately $13.99 million for 174,249 shares during the 1st quarter.
• Multiple institutional investors, including Vanguard Group Inc. and Bank of New York Mellon Corp, have increased their stakes in Dolby, reflecting strong interest in the company.
• Dolby recently reported a quarterly earnings per share (EPS) of $0.78, surpassing analyst expectations, with revenue growth of 9.2% compared to last year.

Trexquant Investment LP bought a new stake in Dolby Laboratories (NYSE:DLB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 174,249 shares of the electronics maker's stock, valued at approximately $13,994,000. Trexquant Investment LP owned approximately 0.18% of Dolby Laboratories as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of DLB. Bank of New York Mellon Corp grew its holdings in shares of Dolby Laboratories by 18.3% in the first quarter. Bank of New York Mellon Corp now owns 5,709,193 shares of the electronics maker's stock valued at $458,505,000 after purchasing an additional 882,716 shares in the last quarter. Vanguard Group Inc. boosted its stake in Dolby Laboratories by 7.1% during the first quarter. Vanguard Group Inc. now owns 7,535,722 shares of the electronics maker's stock worth $605,194,000 after buying an additional 502,110 shares during the period. Alyeska Investment Group L.P. purchased a new position in Dolby Laboratories during the fourth quarter worth $27,314,000. Frontier Capital Management Co. LLC purchased a new stake in shares of Dolby Laboratories during the fourth quarter valued at $24,323,000. Finally, Nuveen LLC purchased a new stake in shares of Dolby Laboratories during the first quarter valued at $16,890,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Rosenblatt Securities reissued a "buy" rating and set a $95.00 target price on shares of Dolby Laboratories in a research note on Friday, August 1st. Tigress Financial lifted their price objective on Dolby Laboratories from $112.00 to $114.00 and gave the company a "buy" rating in a report on Friday, August 15th. Finally, Wall Street Zen raised shares of Dolby Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $103.00.

Insiders Place Their Bets

In other Dolby Laboratories news, SVP Shriram Revankar sold 7,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $74.92, for a total transaction of $524,440.00. Following the sale, the senior vice president owned 70,435 shares of the company's stock, valued at approximately $5,276,990.20. The trade was a 9.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Yeaman sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $72.31, for a total value of $1,807,750.00. Following the completion of the sale, the chief executive officer owned 114,725 shares in the company, valued at approximately $8,295,764.75. This represents a 17.89% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,049 shares of company stock valued at $11,045,581. Insiders own 38.39% of the company's stock.

Dolby Laboratories Price Performance

NYSE:DLB traded down $0.46 during trading hours on Friday, hitting $71.68. 400,469 shares of the company were exchanged, compared to its average volume of 452,630. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 26.26 and a beta of 0.93. Dolby Laboratories has a 52-week low of $68.24 and a 52-week high of $89.66. The company's 50 day moving average price is $74.24 and its 200-day moving average price is $76.17.

Dolby Laboratories (NYSE:DLB - Get Free Report) last released its 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 net margin of 19.62% and a return on equity of 11.52%. Dolby Laboratories's revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, equities analysts predict that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

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

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.