Dolby Laboratories, Inc. (NYSE:DLB) Short Interest Update

Dolby Laboratories, Inc. (NYSE:DLB) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,660,000 shares, a growth of 6.4% from the October 15th total of 1,560,000 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average trading volume of 583,400 shares, the days-to-cover ratio is presently 2.8 days.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock opened at $81.57 on Friday. Dolby Laboratories has a 1 year low of $65.18 and a 1 year high of $91.01. The business has a 50-day moving average of $81.95 and a two-hundred day moving average of $83.28. The company has a market capitalization of $7.80 billion, a P/E ratio of 36.25 and a beta of 1.00.

Dolby Laboratories Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 5th. Shareholders of record on Tuesday, November 28th will be issued a $0.30 dividend. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.27. This represents a $1.20 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, November 27th. Dolby Laboratories’s dividend payout ratio is 48.00%.

Insider Activity

In other news, CMO Todd Pendleton sold 6,889 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $84.41, for a total transaction of $581,500.49. Following the transaction, the chief marketing officer now owns 36,976 shares of the company’s stock, valued at $3,121,144.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Todd Pendleton sold 6,889 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $84.41, for a total value of $581,500.49. Following the completion of the sale, the chief marketing officer now owns 36,976 shares in the company, valued at $3,121,144.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kevin J. Yeaman sold 9,030 shares of the company’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $82.32, for a total value of $743,349.60. Following the completion of the sale, the chief executive officer now owns 51,879 shares of the company’s stock, valued at approximately $4,270,679.28. The disclosure for this sale can be found here. Insiders have sold 33,979 shares of company stock valued at $2,816,967 over the last 90 days. 39.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dolby Laboratories

Several large investors have recently modified their holdings of the business. Morgan Stanley grew its holdings in shares of Dolby Laboratories by 577.7% during the fourth quarter. Morgan Stanley now owns 4,365,832 shares of the electronics maker’s stock worth $307,966,000 after buying an additional 3,721,613 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Dolby Laboratories by 320.2% during the first quarter. First Trust Advisors LP now owns 1,081,747 shares of the electronics maker’s stock worth $84,614,000 after buying an additional 824,296 shares in the last quarter. Norges Bank bought a new position in shares of Dolby Laboratories during the fourth quarter worth about $38,977,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Dolby Laboratories by 5,474.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 452,837 shares of the electronics maker’s stock worth $37,893,000 after buying an additional 444,714 shares in the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of Dolby Laboratories by 37.9% during the first quarter. Acadian Asset Management LLC now owns 1,040,929 shares of the electronics maker’s stock worth $88,900,000 after buying an additional 286,320 shares in the last quarter. 56.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DLB has been the subject of a number of recent analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $98.00 price objective on shares of Dolby Laboratories in a report on Friday. TheStreet downgraded Dolby Laboratories from a “b” rating to a “c+” rating in a report on Friday, August 4th. Finally, StockNews.com began coverage on Dolby Laboratories in a report on Thursday, October 5th. They issued a “hold” rating for the company.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, and home entertainment devices. 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.