Radnor Capital Management LLC raised its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,980 shares of the electronics maker’s stock after buying an additional 670 shares during the period. Radnor Capital Management LLC’s holdings in Dolby Laboratories were worth $484,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brinker Capital Investments LLC acquired a new stake in shares of Dolby Laboratories during the third quarter worth approximately $2,095,000. California State Teachers Retirement System grew its stake in shares of Dolby Laboratories by 1.7% during the second quarter. California State Teachers Retirement System now owns 106,685 shares of the electronics maker’s stock valued at $7,027,000 after purchasing an additional 1,825 shares during the last quarter. Guggenheim Capital LLC bought a new stake in shares of Dolby Laboratories during the third quarter valued at approximately $719,000. Sei Investments Co. grew its stake in shares of Dolby Laboratories by 5.2% during the second quarter. Sei Investments Co. now owns 58,754 shares of the electronics maker’s stock valued at $3,941,000 after purchasing an additional 2,881 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Dolby Laboratories by 13.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 29,147 shares of the electronics maker’s stock valued at $1,932,000 after purchasing an additional 3,491 shares during the last quarter. 56.47% of the stock is owned by institutional investors.
In other Dolby Laboratories news, CEO Kevin J. Yeaman sold 30,000 shares of the firm’s stock in a transaction on Friday, October 30th. The stock was sold at an average price of $75.00, for a total transaction of $2,250,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CMO Todd Pendleton sold 5,191 shares of the firm’s stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $89.69, for a total value of $465,580.79. The disclosure for this sale can be found here. Over the last three months, insiders have sold 341,542 shares of company stock valued at $29,295,829. 38.17% of the stock is currently owned by insiders.
Shares of NYSE:DLB opened at $95.12 on Thursday. Dolby Laboratories, Inc. has a 12 month low of $44.68 and a 12 month high of $97.78. The company’s fifty day simple moving average is $93.26 and its 200 day simple moving average is $76.39. The firm has a market cap of $9.55 billion, a price-to-earnings ratio of 42.28, a PEG ratio of 3.25 and a beta of 0.88.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, November 12th. The electronics maker reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.25. The business had revenue of $271.20 million for the quarter, compared to analyst estimates of $245.04 million. Dolby Laboratories had a net margin of 19.91% and a return on equity of 9.89%. The firm’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period last year, the business posted $0.66 earnings per share. Equities analysts predict that Dolby Laboratories, Inc. will post 2.24 earnings per share for the current year.
A number of equities analysts have issued reports on DLB shares. B. Riley raised their price objective on shares of Dolby Laboratories from $73.00 to $79.00 and gave the company a “neutral” rating in a research note on Friday, November 13th. Zacks Investment Research raised shares of Dolby Laboratories from a “strong sell” rating to a “hold” rating and set a $100.00 price objective on the stock in a research note on Wednesday. Barrington Research cut shares of Dolby Laboratories from an “outperform” rating to a “market perform” rating in a research note on Monday, January 4th. They noted that the move was a valuation call. Finally, BidaskClub cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $81.75.
About Dolby Laboratories
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 a range of media applications.; 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 cinema and a range of media devices.
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