ARP Americas LP Decreases Position in Dolby Laboratories, Inc. (NYSE:DLB)

ARP Americas LP lessened its holdings in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 40.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,171 shares of the electronics maker’s stock after selling 2,829 shares during the period. ARP Americas LP’s holdings in Dolby Laboratories were worth $275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DLB. Parametric Portfolio Associates LLC grew its position in shares of Dolby Laboratories by 20.4% during the 1st quarter. Parametric Portfolio Associates LLC now owns 234,505 shares of the electronics maker’s stock valued at $12,713,000 after acquiring an additional 39,722 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Dolby Laboratories by 8.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 31,683 shares of the electronics maker’s stock valued at $1,718,000 after acquiring an additional 2,399 shares during the period. Russell Investments Group Ltd. grew its position in shares of Dolby Laboratories by 5.5% during the 1st quarter. Russell Investments Group Ltd. now owns 119,768 shares of the electronics maker’s stock valued at $6,493,000 after acquiring an additional 6,237 shares during the period. M&T Bank Corp grew its position in shares of Dolby Laboratories by 7.9% during the 1st quarter. M&T Bank Corp now owns 6,670 shares of the electronics maker’s stock valued at $361,000 after acquiring an additional 486 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of Dolby Laboratories by 184.0% during the 1st quarter. Victory Capital Management Inc. now owns 184,204 shares of the electronics maker’s stock valued at $9,986,000 after acquiring an additional 119,338 shares during the period. Institutional investors own 58.75% of the company’s stock.

DLB has been the topic of a number of analyst reports. B. Riley cut Dolby Laboratories from a “buy” rating to a “neutral” rating and raised their target price for the company from $68.00 to $72.00 in a research report on Wednesday, June 24th. They noted that the move was a valuation call. TheStreet upgraded Dolby Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, June 15th. Zacks Investment Research cut Dolby Laboratories from a “hold” rating to a “sell” rating and set a $61.00 price objective on the stock. in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lowered their price objective on Dolby Laboratories from $66.00 to $65.00 and set an “overweight” rating on the stock in a report on Tuesday, May 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $67.00.

Shares of Dolby Laboratories stock traded up $0.59 on Friday, hitting $69.60. 323,188 shares of the company were exchanged, compared to its average volume of 277,664. The stock has a market capitalization of $7.01 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 3.22 and a beta of 0.88. The company has a 50-day moving average price of $66.18 and a 200 day moving average price of $63.11. Dolby Laboratories, Inc. has a 1-year low of $44.68 and a 1-year high of $73.20.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Monday, May 4th. The electronics maker reported $1.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.05). The company had revenue of $351.82 million for the quarter, compared to analyst estimates of $361.35 million. Dolby Laboratories had a return on equity of 9.45% and a net margin of 17.74%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.04 earnings per share. As a group, sell-side analysts predict that Dolby Laboratories, Inc. will post 1.66 earnings per share for the current fiscal year.

In other news, SVP Steven E. Forshay sold 4,167 shares of Dolby Laboratories stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $69.50, for a total transaction of $289,606.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Lewis Chew sold 10,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $54.79, for a total transaction of $547,900.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,167 shares of company stock worth $3,837,507. Insiders own 38.17% of the company’s stock.

Dolby Laboratories Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

Featured Article: How Investors Can Profit from Options Trading

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, Inc. (NYSE:DLB).

Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.