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

Dolby Laboratories, Inc. (NYSE:DLB) was the target of a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 730,100 shares, a decrease of 9.3% from the January 15th total of 805,400 shares. Based on an average daily volume of 496,800 shares, the short-interest ratio is presently 1.5 days. Approximately 1.2% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DLB. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, January 30th. StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 40,000 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the sale, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. The trade was a 39.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total value of $588,490.00. Following the completion of the transaction, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at $2,501,755.06. This represents a 19.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,917 shares of company stock valued at $14,861,429 in the last 90 days. Insiders own 38.39% of the company’s stock.

Hedge Funds Weigh In On Dolby Laboratories

Hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings in shares of Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 163 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after buying an additional 301 shares in the last quarter. Mather Group LLC. raised its position in Dolby Laboratories by 36.8% in the 4th quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after buying an additional 142 shares during the last quarter. Headlands Technologies LLC bought a new position in Dolby Laboratories during the 4th quarter valued at about $57,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of Dolby Laboratories by 22.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after acquiring an additional 146 shares during the last quarter. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Down 0.7 %

Shares of NYSE DLB traded down $0.56 during trading on Monday, reaching $83.72. The company had a trading volume of 440,257 shares, compared to its average volume of 503,875. Dolby Laboratories has a 12-month low of $66.35 and a 12-month high of $89.66. The business’s 50-day moving average is $80.26 and its 200 day moving average is $76.06. The stock has a market cap of $7.99 billion, a PE ratio of 30.78 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.58%. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Dolby Laboratories Company Profile

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.