Sei Investments Co. lifted its holdings in shares of Dolby Laboratories (NYSE:DLB – Free Report) by 26.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,307 shares of the electronics maker’s stock after buying an additional 64,306 shares during the period. Sei Investments Co.’s holdings in Dolby Laboratories were worth $18,516,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of DLB. Fifth Third Bancorp lifted its stake in Dolby Laboratories by 34.7% during the 4th quarter. Fifth Third Bancorp now owns 746 shares of the electronics maker’s stock valued at $48,000 after acquiring an additional 192 shares during the period. Aquatic Capital Management LLC bought a new stake in shares of Dolby Laboratories in the third quarter worth approximately $56,000. iSAM Funds UK Ltd purchased a new position in shares of Dolby Laboratories during the third quarter valued at approximately $68,000. Quarry LP raised its holdings in shares of Dolby Laboratories by 1,486.7% during the fourth quarter. Quarry LP now owns 1,190 shares of the electronics maker’s stock valued at $76,000 after purchasing an additional 1,115 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Dolby Laboratories by 48.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,232 shares of the electronics maker’s stock valued at $79,000 after purchasing an additional 402 shares during the period. 58.56% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, SVP Shriram Revankar sold 3,000 shares of Dolby Laboratories stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $54.90, for a total transaction of $164,700.00. Following the sale, the senior vice president owned 80,603 shares of the company’s stock, valued at approximately $4,425,104.70. This trade represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John D. Couling sold 7,667 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $53.20, for a total value of $407,884.40. Following the completion of the transaction, the senior vice president directly owned 118,727 shares in the company, valued at approximately $6,316,276.40. This represents a 6.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 47,458 shares of company stock worth $2,639,537. 37.93% of the stock is currently owned by insiders.
Dolby Laboratories Stock Performance
Dolby Laboratories (NYSE:DLB – Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The electronics maker reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.06. The business had revenue of $395.63 million during the quarter, compared to analyst estimates of $385.80 million. Dolby Laboratories had a return on equity of 11.47% and a net margin of 17.85%.Dolby Laboratories’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.34 EPS. On average, equities research analysts predict that Dolby Laboratories will post 3.21 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the stock. Barrington Research restated an “outperform” rating and issued a $90.00 target price on shares of Dolby Laboratories in a report on Monday, June 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Wednesday, June 24th. Rosenblatt Securities reissued a “buy” rating and set a $85.00 price target on shares of Dolby Laboratories in a report on Thursday, June 11th. Finally, Wall Street Zen upgraded Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.75.
Get Our Latest Analysis on DLB
Dolby Laboratories Company Profile
Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.
Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.
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