Dolby Laboratories, Inc. (NYSE:DLB) Sees Significant Drop in Short Interest

Dolby Laboratories, Inc. (NYSE:DLB) saw a large decline in short interest during the month of August. As of August 15th, there was short interest totalling 737,500 shares, a decline of 6.4% from the July 31st total of 788,100 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average daily trading volume, of 458,800 shares, the short-interest ratio is currently 1.6 days.

Dolby Laboratories Stock Performance

Shares of DLB stock opened at $71.36 on Monday. The stock’s 50-day moving average is $75.97 and its two-hundred day moving average is $79.26. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $90.06. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 36.41 and a beta of 0.99.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $288.82 million during the quarter, compared to analysts’ expectations of $286.26 million. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. As a group, research analysts predict that Dolby Laboratories will post 2.68 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Monday, August 19th. Dolby Laboratories’s payout ratio is currently 61.22%.

Institutional Investors Weigh In On Dolby Laboratories

A number of institutional investors and hedge funds have recently made changes to their positions in DLB. Mather Group LLC. acquired a new position in Dolby Laboratories in the 1st quarter valued at about $33,000. Blue Trust Inc. increased its holdings in shares of Dolby Laboratories by 398.8% in the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 331 shares during the period. Quarry LP purchased a new stake in shares of Dolby Laboratories during the fourth quarter worth approximately $37,000. Point72 Hong Kong Ltd acquired a new stake in shares of Dolby Laboratories during the second quarter worth $37,000. Finally, GAMMA Investing LLC grew its position in Dolby Laboratories by 64.6% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after buying an additional 192 shares during the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a report on Saturday, May 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $98.00 price target on shares of Dolby Laboratories in a research note on Friday, June 7th. Finally, Barrington Research restated an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, August 9th.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.