Disciplined Growth Investors Inc. MN lowered its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 0.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 737,622 shares of the electronics maker’s stock after selling 6,398 shares during the quarter. Disciplined Growth Investors Inc. MN’s holdings in Dolby Laboratories were worth $45,733,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Group One Trading L.P. boosted its stake in Dolby Laboratories by 707.3% during the fourth quarter. Group One Trading L.P. now owns 36,327 shares of the electronics maker’s stock worth $2,252,000 after buying an additional 31,827 shares in the last quarter. Schroder Investment Management Group acquired a new stake in Dolby Laboratories during the third quarter worth $35,761,000. Highbridge Capital Management LLC acquired a new stake in Dolby Laboratories during the third quarter worth $254,000. BlackRock Inc. boosted its stake in Dolby Laboratories by 0.8% during the fourth quarter. BlackRock Inc. now owns 3,092,122 shares of the electronics maker’s stock worth $191,712,000 after buying an additional 25,262 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Dolby Laboratories by 6.0% during the third quarter. Wells Fargo & Company MN now owns 629,039 shares of the electronics maker’s stock worth $36,183,000 after buying an additional 35,558 shares in the last quarter. 53.28% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on DLB shares. B. Riley downgraded shares of Dolby Laboratories from a “buy” rating to a “neutral” rating and set a $63.00 price target on the stock. in a research note on Tuesday, January 16th. Zacks Investment Research downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. JPMorgan Chase & Co. lifted their price target on shares of Dolby Laboratories from $63.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, ValuEngine upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $62.00.
Shares of Dolby Laboratories, Inc. (NYSE DLB) opened at $66.33 on Tuesday. Dolby Laboratories, Inc. has a 52 week low of $48.00 and a 52 week high of $74.29. The company has a market cap of $7,017.89, a price-to-earnings ratio of 28.73, a PEG ratio of 5.58 and a beta of 0.75.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.35. Dolby Laboratories had a net margin of 6.06% and a return on equity of 12.02%. The company had revenue of $287.80 million for the quarter, compared to the consensus estimate of $265.75 million. During the same quarter in the previous year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. equities research analysts forecast that Dolby Laboratories, Inc. will post 1.01 earnings per share for the current year.
In related news, EVP Mark Andrew Sherman sold 10,000 shares of the company’s stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $65.00, for a total transaction of $650,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director N William Jasper, Jr. sold 20,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $63.72, for a total transaction of $1,274,400.00. The disclosure for this sale can be found here. Insiders sold a total of 498,820 shares of company stock worth $31,288,698 in the last 90 days. 43.74% of the stock is owned by corporate insiders.
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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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