Clifford Capital Partners LLC Boosts Position in Dolby Laboratories, Inc. (NYSE:DLB)

Clifford Capital Partners LLC raised its stake in Dolby Laboratories, Inc. (NYSE:DLB) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,417 shares of the electronics maker’s stock after buying an additional 507 shares during the period. Clifford Capital Partners LLC’s holdings in Dolby Laboratories were worth $667,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Lord Abbett & CO. LLC grew its holdings in shares of Dolby Laboratories by 9.8% during the first quarter. Lord Abbett & CO. LLC now owns 266,672 shares of the electronics maker’s stock valued at $22,339,000 after buying an additional 23,804 shares during the last quarter. Illinois Municipal Retirement Fund lifted its holdings in Dolby Laboratories by 47.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 31,518 shares of the electronics maker’s stock valued at $2,640,000 after purchasing an additional 10,202 shares in the last quarter. Vanguard Group Inc. grew its stake in Dolby Laboratories by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock valued at $544,711,000 after acquiring an additional 107,713 shares in the last quarter. Boston Trust Walden Corp grew its position in shares of Dolby Laboratories by 3.1% in the second quarter. Boston Trust Walden Corp now owns 376,793 shares of the electronics maker’s stock valued at $29,853,000 after purchasing an additional 11,177 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Dolby Laboratories in the second quarter valued at about $3,348,000. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Trading Down 0.9 %

Dolby Laboratories stock opened at $75.85 on Wednesday. The stock’s fifty day simple moving average is $72.67 and its 200-day simple moving average is $77.84. The firm has a market capitalization of $7.27 billion, a P/E ratio of 38.70 and a beta of 0.97. Dolby Laboratories, Inc. has a twelve month low of $66.35 and a twelve month high of $90.06.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.14. The business had revenue of $288.82 million during the quarter, compared to analysts’ expectations of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. Sell-side analysts predict that Dolby Laboratories, Inc. will post 2.72 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Monday, August 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date of this dividend was Monday, August 19th. Dolby Laboratories’s payout ratio is currently 61.22%.

Dolby Laboratories declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

DLB has been the subject of a number of research analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Dolby Laboratories in a research note on Friday, June 7th.

Dolby Laboratories 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.