Sei Investments Co. Increases Stake in Dolby Laboratories $DLB

Sei Investments Co. increased its stake in Dolby Laboratories (NYSE:DLB) by 26.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,307 shares of the electronics maker’s stock after buying an additional 64,306 shares during the period. Sei Investments Co. owned 0.33% of Dolby Laboratories worth $18,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DLB. Royal Bank of Canada grew its holdings in shares of Dolby Laboratories by 3.5% during the 1st quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker’s stock worth $5,491,000 after acquiring an additional 2,298 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Dolby Laboratories by 218.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker’s stock valued at $20,043,000 after purchasing an additional 171,288 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Dolby Laboratories by 5.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker’s stock valued at $19,131,000 after purchasing an additional 12,598 shares in the last quarter. Focus Partners Wealth bought a new stake in shares of Dolby Laboratories during the first quarter valued at approximately $390,000. Finally, EverSource Wealth Advisors LLC grew its stake in Dolby Laboratories by 273.3% in the second quarter. EverSource Wealth Advisors LLC now owns 2,598 shares of the electronics maker’s stock worth $193,000 after purchasing an additional 1,902 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DLB shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Dolby Laboratories in a research report on Wednesday, June 24th. Barrington Research reaffirmed an “outperform” rating and issued a $90.00 target price on shares of Dolby Laboratories in a research report on Monday, June 15th. Wall Street Zen upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Dolby Laboratories in a research report on Thursday, June 11th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dolby Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.75.

Insider Activity

In other Dolby Laboratories news, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $54.90, for a total value of $164,700.00. Following the completion of the transaction, the senior vice president directly owned 80,603 shares of the company’s stock, valued at approximately $4,425,104.70. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert J. Park sold 4,895 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $56.68, for a total transaction of $277,448.60. Following the completion of the transaction, the chief financial officer owned 81,490 shares in the company, valued at approximately $4,618,853.20. This represents a 5.67% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 47,458 shares of company stock worth $2,639,537. 37.93% of the stock is currently owned by company insiders.

Dolby Laboratories Trading Up 0.2%

Shares of NYSE:DLB opened at $52.63 on Thursday. The stock has a fifty day simple moving average of $52.25 and a two-hundred day simple moving average of $58.67. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 20.80 and a beta of 0.81. Dolby Laboratories has a 12-month low of $48.26 and a 12-month high of $76.69.

Dolby Laboratories (NYSE:DLB) last released its earnings results on Thursday, April 30th. The electronics maker reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.06. Dolby Laboratories had a return on equity of 11.47% and a net margin of 17.85%.The firm had revenue of $395.63 million for the quarter, compared to analysts’ expectations of $385.80 million. During the same period in the prior year, the firm posted $1.34 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. As a group, equities research analysts predict that Dolby Laboratories will post 3.21 EPS for the current year.

Dolby Laboratories Profile

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.