Laurion Capital Management LP Invests $331,000 in Dolby Laboratories (DLB)
Laurion Capital Management LP bought a new stake in Dolby Laboratories (NYSE:DLB) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,100 shares of the company’s stock, valued at approximately $331,000.
Several other large investors have also bought and sold shares of the company. IBM Retirement Fund increased its stake in Dolby Laboratories by 1.5% in the second quarter. IBM Retirement Fund now owns 5,122 shares of the company’s stock valued at $245,000 after buying an additional 76 shares during the last quarter. Legal & General Group Plc increased its stake in Dolby Laboratories by 3.1% in the second quarter. Legal & General Group Plc now owns 4,893 shares of the company’s stock valued at $234,000 after buying an additional 149 shares during the last quarter. US Bancorp DE increased its stake in Dolby Laboratories by 5.7% in the third quarter. US Bancorp DE now owns 3,316 shares of the company’s stock valued at $180,000 after buying an additional 178 shares during the last quarter. K.J. Harrison & Partners Inc increased its stake in Dolby Laboratories by 2.0% in the third quarter. K.J. Harrison & Partners Inc now owns 10,200 shares of the company’s stock valued at $554,000 after buying an additional 200 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in Dolby Laboratories by 8.0% in the third quarter. Advisor Group Inc. now owns 3,798 shares of the company’s stock valued at $207,000 after buying an additional 280 shares during the last quarter. 51.37% of the stock is owned by institutional investors.
Dolby Laboratories (NYSE:DLB) traded up 0.85% on Friday, reaching $48.68. 282,408 shares of the company’s stock were exchanged. The company has a market cap of $4.99 billion, a PE ratio of 26.90 and a beta of 0.64. The firm’s 50 day moving average price is $46.62 and its 200 day moving average price is $49.02. Dolby Laboratories has a 52-week low of $30.38 and a 52-week high of $55.02.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, October 26th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.17. The company earned $233 million during the quarter, compared to analyst estimates of $226.45 million. Dolby Laboratories had a net margin of 18.12% and a return on equity of 9.87%. Dolby Laboratories’s quarterly revenue was up .1% compared to the same quarter last year. During the same period last year, the business earned $0.43 EPS. On average, analysts expect that Dolby Laboratories will post $1.99 earnings per share for the current year.
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Several research analysts recently weighed in on the stock. B. Riley restated a “neutral” rating and set a $49.00 price target on shares of Dolby Laboratories in a report on Tuesday, November 1st. J P Morgan Chase & Co assumed coverage on shares of Dolby Laboratories in a report on Tuesday, October 4th. They set a “neutral” rating and a $51.00 price target on the stock. Zacks Investment Research upgraded shares of Dolby Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, December 27th. Finally, Barrington Research upgraded shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating in a report on Thursday, October 27th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $50.60.
In other Dolby Laboratories news, CFO Lewis Chew sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 21st. The shares were sold at an average price of $46.85, for a total transaction of $702,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin J. Yeaman sold 5,411 shares of the firm’s stock in a transaction dated Monday, December 19th. The shares were sold at an average price of $45.83, for a total transaction of $247,986.13. The disclosure for this sale can be found here. 43.80% of the stock is currently owned by corporate insiders.
About Dolby Laboratories
Dolby Laboratories, Inc creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Company offers digital signal processing and compression technologies. Its technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences.
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