Dolby Laboratories $DLB Shares Bought by Focus Partners Advisor Solutions LLC

Focus Partners Advisor Solutions LLC grew its position in shares of Dolby Laboratories (NYSE:DLB) by 27.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 4,312 shares of the electronics maker’s stock after acquiring an additional 939 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in Dolby Laboratories were worth $320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MAI Capital Management increased its stake in Dolby Laboratories by 87.1% during the first quarter. MAI Capital Management now owns 348 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 162 shares during the last quarter. Cheviot Value Management LLC acquired a new stake in Dolby Laboratories during the first quarter worth about $27,000. Caitong International Asset Management Co. Ltd acquired a new stake in Dolby Laboratories during the first quarter worth about $29,000. Ameritas Advisory Services LLC acquired a new stake in Dolby Laboratories during the second quarter worth about $48,000. Finally, UMB Bank n.a. increased its stake in Dolby Laboratories by 38.1% during the second quarter. UMB Bank n.a. now owns 964 shares of the electronics maker’s stock worth $72,000 after acquiring an additional 266 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

DLB has been the subject of several analyst reports. Tigress Financial upped their target price on Dolby Laboratories from $112.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Wall Street Zen raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dolby Laboratories in a research report on Wednesday, October 8th. Robert W. Baird initiated coverage on Dolby Laboratories in a research report on Friday, September 5th. They issued a “neutral” rating and a $74.00 target price for the company. Finally, Baird R W raised Dolby Laboratories to a “hold” rating in a research report on Friday, September 5th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Dolby Laboratories has an average rating of “Moderate Buy” and an average target price of $95.75.

Insider Transactions at Dolby Laboratories

In related news, SVP Shriram Revankar sold 7,000 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $74.92, for a total value of $524,440.00. Following the completion of the transaction, the senior vice president owned 70,435 shares of the company’s stock, valued at approximately $5,276,990.20. This represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Kevin J. Yeaman sold 25,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $72.31, for a total value of $1,807,750.00. Following the completion of the transaction, the chief executive officer directly owned 114,725 shares of the company’s stock, valued at $8,295,764.75. This represents a 17.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 82,000 shares of company stock valued at $5,845,440 in the last three months. 38.39% of the stock is currently owned by company insiders.

Dolby Laboratories Stock Performance

Shares of DLB opened at $66.25 on Friday. The company has a market capitalization of $6.35 billion, a P/E ratio of 24.27 and a beta of 0.92. Dolby Laboratories has a one year low of $64.50 and a one year high of $89.66. The stock has a 50-day moving average price of $70.63 and a 200 day moving average price of $73.27.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $315.55 million during the quarter, compared to the consensus estimate of $305.23 million. Dolby Laboratories had a return on equity of 11.52% and a net margin of 19.62%.Dolby Laboratories’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 earnings per share. As a group, equities research analysts forecast that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

About Dolby Laboratories

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.