Dolby Laboratories Target of Unusually Large Options Trading (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB) saw unusually large options trading activity on Friday. Traders bought 813 call options on the stock. This is an increase of approximately 1,255% compared to the average volume of 60 call options.

Several brokerages recently commented on DLB. B. Riley lowered shares of Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $63.00 price target for the company. in a report on Tuesday, January 16th. Zacks Investment Research lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, January 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Dolby Laboratories has a consensus rating of “Hold” and an average target price of $62.00.

Dolby Laboratories (NYSE:DLB) opened at $62.44 on Tuesday. The firm has a market cap of $6,180.00, a PE ratio of 99.11, a PEG ratio of 5.07 and a beta of 0.78. Dolby Laboratories has a 1 year low of $48.00 and a 1 year high of $74.29.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Wednesday, January 24th. The electronics maker reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.35. The firm had revenue of $287.80 million for the quarter, compared to analysts’ expectations of $265.75 million. Dolby Laboratories had a net margin of 6.06% and a return on equity of 12.02%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS. research analysts anticipate that Dolby Laboratories will post 0.99 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.02%. Dolby Laboratories’s payout ratio is currently 101.59%.

In related news, EVP Mark Andrew Sherman sold 81,554 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $62.52, for a total value of $5,098,756.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Bob Borchers sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $61.00, for a total transaction of $3,050,000.00. The disclosure for this sale can be found here. Insiders sold a total of 761,989 shares of company stock worth $47,521,183 in the last ninety days. 43.74% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Carillon Tower Advisers Inc. acquired a new position in Dolby Laboratories in the fourth quarter valued at about $602,000. Group One Trading L.P. lifted its position in Dolby Laboratories by 707.3% in the fourth quarter. Group One Trading L.P. now owns 36,327 shares of the electronics maker’s stock valued at $2,252,000 after buying an additional 31,827 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in Dolby Laboratories by 14.8% in the fourth quarter. UBS Asset Management Americas Inc. now owns 65,959 shares of the electronics maker’s stock valued at $4,089,000 after buying an additional 8,517 shares during the last quarter. BlackRock Inc. lifted its position in Dolby Laboratories by 0.8% in the fourth quarter. BlackRock Inc. now owns 3,092,122 shares of the electronics maker’s stock valued at $191,712,000 after buying an additional 25,262 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Dolby Laboratories by 35.1% in the fourth quarter. Schroder Investment Management Group now owns 837,657 shares of the electronics maker’s stock valued at $51,935,000 after buying an additional 217,773 shares during the last quarter. 52.74% of the stock is currently owned by institutional investors.

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Dolby Laboratories Company Profile

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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