Dolby Laboratories, Inc. (NYSE:DLB) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. trimmed its position in Dolby Laboratories, Inc. (NYSE:DLB) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 98,876 shares of the electronics maker’s stock after selling 2,775 shares during the period. Eagle Asset Management Inc.’s holdings in Dolby Laboratories were worth $6,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DLB. Denali Advisors LLC increased its position in shares of Dolby Laboratories by 702.9% in the 2nd quarter. Denali Advisors LLC now owns 28,100 shares of the electronics maker’s stock valued at $1,815,000 after acquiring an additional 24,600 shares during the period. WINTON GROUP Ltd increased its position in shares of Dolby Laboratories by 33.9% in the 2nd quarter. WINTON GROUP Ltd now owns 4,483 shares of the electronics maker’s stock valued at $290,000 after acquiring an additional 1,136 shares during the period. Boston Private Wealth LLC acquired a new position in shares of Dolby Laboratories in the 2nd quarter valued at $649,000. PFS Investments Inc. acquired a new position in shares of Dolby Laboratories in the 2nd quarter valued at $336,000. Finally, Marathon Asset Management LLP increased its position in shares of Dolby Laboratories by 7.7% in the 2nd quarter. Marathon Asset Management LLP now owns 684,400 shares of the electronics maker’s stock valued at $44,209,000 after acquiring an additional 48,850 shares during the period. 57.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of DLB opened at $65.70 on Tuesday. The business’s 50-day moving average is $63.98 and its two-hundred day moving average is $63.33. The company has a market capitalization of $6.69 billion, a P/E ratio of 27.38, a P/E/G ratio of 1.78 and a beta of 0.84. Dolby Laboratories, Inc. has a fifty-two week low of $56.09 and a fifty-two week high of $71.77.

In other news, VP Ryan Nicholson sold 8,197 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $61.04, for a total transaction of $500,344.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Lewis Chew sold 15,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $60.33, for a total transaction of $904,950.00. The disclosure for this sale can be found here. 40.23% of the stock is currently owned by company insiders.

Several equities analysts recently issued reports on the company. William Blair reissued a “buy” rating on shares of Dolby Laboratories in a research report on Friday, August 2nd. ValuEngine raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. B. Riley raised Dolby Laboratories from a “neutral” rating to a “buy” rating in a research report on Monday. Dougherty & Co reaffirmed a “buy” rating on shares of Dolby Laboratories in a research report on Monday. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Dolby Laboratories in a research report on Wednesday, September 18th. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $77.33.

About Dolby Laboratories

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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