Dolby Laboratories $DLB Stake Lessened by Cwm LLC

Cwm LLC cut its stake in shares of Dolby Laboratories (NYSE:DLB) by 62.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,638 shares of the electronics maker’s stock after selling 18,040 shares during the period. Cwm LLC’s holdings in Dolby Laboratories were worth $683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DLB. First Horizon Corp purchased a new position in Dolby Laboratories during the third quarter valued at approximately $25,000. Hantz Financial Services Inc. grew its position in Dolby Laboratories by 166.7% during the third quarter. Hantz Financial Services Inc. now owns 352 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 220 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Dolby Laboratories during the third quarter worth $38,000. Rothschild Investment LLC raised its holdings in shares of Dolby Laboratories by 4,046.7% during the third quarter. Rothschild Investment LLC now owns 622 shares of the electronics maker’s stock worth $45,000 after acquiring an additional 607 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Dolby Laboratories during the third quarter worth $50,000. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Trading Up 0.4%

DLB stock opened at $63.18 on Thursday. Dolby Laboratories has a 1 year low of $57.62 and a 1 year high of $78.28. The company has a fifty day simple moving average of $62.58 and a 200 day simple moving average of $64.56. The firm has a market cap of $6.04 billion, a PE ratio of 25.48 and a beta of 0.86.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The business had revenue of $346.71 million during the quarter, compared to analyst estimates of $341.26 million. During the same quarter in the previous year, the business earned $1.14 EPS. Dolby Laboratories’s quarterly revenue was down 2.8% compared to the same quarter last year. As a group, analysts forecast that Dolby Laboratories will post 3.18 EPS for the current fiscal year.

Insider Buying and Selling at Dolby Laboratories

In related news, CAO Ryan Nicholson sold 2,667 shares of Dolby Laboratories stock in a transaction on Friday, February 13th. The shares were sold at an average price of $66.38, for a total value of $177,035.46. Following the completion of the sale, the chief accounting officer owned 36,956 shares of the company’s stock, valued at approximately $2,453,139.28. The trade was a 6.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $66.14, for a total transaction of $198,420.00. Following the completion of the sale, the senior vice president directly owned 83,218 shares of the company’s stock, valued at approximately $5,504,038.52. The trade was a 3.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 37.93% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Rosenblatt Securities reiterated a “buy” rating and set a $85.00 price objective on shares of Dolby Laboratories in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dolby Laboratories in a report on Friday, March 27th. Finally, Barrington Research reiterated an “outperform” rating and set a $90.00 price objective on shares of Dolby Laboratories in a report on Monday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.