Dynamic Technology Lab Private Ltd Has $274,000 Stock Holdings in Dolby Laboratories $DLB

Dynamic Technology Lab Private Ltd reduced its position in shares of Dolby Laboratories (NYSE:DLB) by 79.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,791 shares of the electronics maker’s stock after selling 14,739 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Dolby Laboratories were worth $274,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Dolby Laboratories by 3.5% during the 1st quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker’s stock worth $5,491,000 after buying an additional 2,298 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Dolby Laboratories by 218.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker’s stock worth $20,043,000 after buying an additional 171,288 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Dolby Laboratories by 5.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker’s stock valued at $19,131,000 after buying an additional 12,598 shares in the last quarter. Focus Partners Wealth bought a new position in Dolby Laboratories in the first quarter valued at about $390,000. Finally, Allworth Financial LP grew its position in Dolby Laboratories by 590.4% in the second quarter. Allworth Financial LP now owns 504 shares of the electronics maker’s stock valued at $37,000 after acquiring an additional 431 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Trading Down 1.4%

Shares of DLB opened at $62.96 on Friday. The stock has a market capitalization of $6.02 billion, a P/E ratio of 25.39 and a beta of 0.84. The firm’s fifty day simple moving average is $64.17 and its two-hundred day simple moving average is $67.03. Dolby Laboratories has a 12 month low of $60.14 and a 12 month high of $83.25.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $346.71 million for the quarter, compared to analysts’ expectations of $341.26 million. Dolby Laboratories had a return on equity of 11.50% and a net margin of 17.97%.The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.14 EPS. As a group, research analysts predict that Dolby Laboratories will post 2.94 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

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

Insider Buying and Selling

In related news, CAO Ryan Nicholson sold 2,667 shares of Dolby Laboratories stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $66.38, for a total transaction of $177,035.46. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin J. Yeaman sold 6,751 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $67.24, for a total transaction of $453,937.24. Following the completion of the sale, the chief executive officer owned 98,377 shares of the company’s stock, valued at approximately $6,614,869.48. The trade was a 6.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 50,784 shares of company stock valued at $3,391,144. Company insiders own 37.93% of the company’s stock.

Analyst Upgrades and Downgrades

DLB has been the subject of a number of research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a research report on Friday, January 30th. Barrington Research cut 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 report on Monday, January 26th. Wall Street Zen cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.75.

About Dolby Laboratories

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.