Dolby Laboratories $DLB Stock Holdings Increased by Summit Creek Advisors LLC

Summit Creek Advisors LLC raised its stake in shares of Dolby Laboratories (NYSE:DLB) by 1,616.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 100,129 shares of the electronics maker’s stock after buying an additional 94,296 shares during the period. Summit Creek Advisors LLC owned about 0.10% of Dolby Laboratories worth $7,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. MAI Capital Management lifted its holdings in shares of Dolby Laboratories by 87.1% during the 1st quarter. MAI Capital Management now owns 348 shares of the electronics maker’s stock valued at $28,000 after buying an additional 162 shares during the last quarter. Cheviot Value Management LLC bought a new stake in Dolby Laboratories in the first quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Dolby Laboratories during the 1st quarter worth $29,000. Ameritas Advisory Services LLC bought a new position in shares of Dolby Laboratories during the 2nd quarter valued at $48,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Dolby Laboratories in the 2nd quarter valued at $50,000. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a report on Friday, September 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dolby Laboratories in a report on Wednesday, October 8th. Baird R W upgraded Dolby Laboratories to a “hold” rating in a report on Friday, September 5th. Finally, Robert W. Baird assumed coverage on shares of Dolby Laboratories in a report on Friday, September 5th. They set a “neutral” rating and a $74.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Dolby Laboratories has a consensus rating of “Moderate Buy” and an average price target of $95.75.

Insiders Place Their Bets

In related news, SVP Shriram Revankar sold 7,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.92, for a total transaction of $524,440.00. Following the sale, the senior vice president owned 70,435 shares of the company’s stock, valued at approximately $5,276,990.20. This represents a 9.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 25,000 shares of Dolby Laboratories stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $68.87, for a total value of $1,721,750.00. Following the transaction, the chief executive officer directly owned 114,725 shares of the company’s stock, valued at $7,901,110.75. The trade was a 17.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 82,000 shares of company stock worth $5,845,440. 38.39% of the stock is currently owned by corporate insiders.

Dolby Laboratories Stock Up 0.7%

DLB opened at $65.43 on Thursday. The firm has a 50-day moving average price of $70.16 and a 200-day moving average price of $73.13. Dolby Laboratories has a twelve month low of $64.50 and a twelve month high of $89.66. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 23.97 and a beta of 0.97.

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.