Disciplined Growth Investors Inc. MN cut its holdings in Dolby Laboratories (NYSE:DLB) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 744,020 shares of the electronics maker’s stock after selling 5,775 shares during the quarter. Disciplined Growth Investors Inc. MN owned 0.73% of Dolby Laboratories worth $42,796,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Dolby Laboratories by 2.2% during the second quarter. Vanguard Group Inc. now owns 4,725,496 shares of the electronics maker’s stock worth $231,360,000 after acquiring an additional 103,702 shares during the last quarter. BlackRock Inc. boosted its position in shares of Dolby Laboratories by 19.8% in the second quarter. BlackRock Inc. now owns 2,913,371 shares of the electronics maker’s stock worth $142,639,000 after buying an additional 481,649 shares during the period. Janus Henderson Group PLC boosted its position in shares of Dolby Laboratories by 352.2% in the third quarter. Janus Henderson Group PLC now owns 2,657,618 shares of the electronics maker’s stock worth $152,875,000 after buying an additional 2,069,849 shares during the period. American Century Companies Inc. raised its stake in Dolby Laboratories by 0.9% during the third quarter. American Century Companies Inc. now owns 1,844,837 shares of the electronics maker’s stock valued at $106,115,000 after buying an additional 16,420 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in Dolby Laboratories by 6.9% during the third quarter. TimesSquare Capital Management LLC now owns 1,795,000 shares of the electronics maker’s stock valued at $103,248,000 after buying an additional 116,500 shares in the last quarter. Institutional investors own 52.53% of the company’s stock.
In other Dolby Laboratories news, SVP Bob Borchers sold 116,821 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $61.15, for a total value of $7,143,604.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Steven E. Forshay sold 9,355 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $57.86, for a total transaction of $541,280.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 544,409 shares of company stock valued at $33,369,495. Company insiders own 43.74% of the company’s stock.
Dolby Laboratories (DLB) traded up $1.04 during trading hours on Tuesday, hitting $63.04. 295,473 shares of the stock were exchanged, compared to its average volume of 285,168. Dolby Laboratories has a 52 week low of $44.99 and a 52 week high of $63.34. The company has a market capitalization of $6,480.00, a PE ratio of 32.49, a P/E/G ratio of 2.30 and a beta of 0.85.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, October 25th. The electronics maker reported $0.45 EPS for the quarter, beating the consensus estimate of $0.27 by $0.18. Dolby Laboratories had a net margin of 18.66% and a return on equity of 10.62%. The company had revenue of $242.05 million during the quarter, compared to analysts’ expectations of $244.80 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. research analysts forecast that Dolby Laboratories will post 2.24 EPS for the current year.
Several analysts recently commented on the company. B. Riley restated a “buy” rating and issued a $61.50 target price on shares of Dolby Laboratories in a research report on Thursday, September 14th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 price target (up from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Dougherty & Co reissued a “buy” rating and set a $63.00 price objective on shares of Dolby Laboratories in a research note on Wednesday, September 13th. Finally, Zacks Investment Research cut Dolby Laboratories from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $60.17.
About Dolby Laboratories
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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