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

Dolby Laboratories, Inc. (NYSE:DLBGet Free Report) was the target of a large increase in short interest in May. As of May 15th, there was short interest totalling 1,480,000 shares, an increase of 21.3% from the April 30th total of 1,220,000 shares. Approximately 2.5% of the shares of the stock are short sold. Based on an average daily trading volume, of 330,300 shares, the short-interest ratio is presently 4.5 days.

Dolby Laboratories Stock Performance

Shares of Dolby Laboratories stock opened at $81.01 on Friday. Dolby Laboratories has a 52-week low of $75.87 and a 52-week high of $91.01. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 41.33 and a beta of 0.98. The company has a fifty day moving average of $81.15 and a 200-day moving average of $83.08.

Dolby Laboratories (NYSE:DLBGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.10. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. The company had revenue of $364.52 million during the quarter, compared to analysts’ expectations of $361.98 million. On average, equities research analysts forecast that Dolby Laboratories will post 2.68 earnings per share for the current fiscal year.

Dolby Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.48%. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DLB. Rosenblatt Securities reaffirmed a “buy” rating and issued a $98.00 price objective on shares of Dolby Laboratories in a research note on Monday, April 29th. raised shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, May 11th.

View Our Latest Stock Report on DLB

Insiders Place Their Bets

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total value of $181,772.46. Following the completion of the transaction, the executive vice president now owns 58,325 shares of the company’s stock, valued at approximately $4,643,836.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 39.54% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLB. VisionPoint Advisory Group LLC raised its holdings in Dolby Laboratories by 86.9% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after buying an additional 172 shares during the last quarter. Blue Trust Inc. raised its holdings in Dolby Laboratories by 75.7% during the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after buying an additional 159 shares during the last quarter. Mather Group LLC. bought a new stake in Dolby Laboratories during the 1st quarter valued at $33,000. Quarry LP bought a new stake in Dolby Laboratories during the 4th quarter valued at $37,000. Finally, Sunbelt Securities Inc. raised its holdings in Dolby Laboratories by 1,631.0% during the 1st quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock valued at $42,000 after buying an additional 473 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Company Profile

(Get Free Report)

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.

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