Cambiar Investors LLC Purchases 2,606 Shares of Dolby Laboratories $DLB

Cambiar Investors LLC raised its position in shares of Dolby Laboratories (NYSE:DLB) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 112,555 shares of the electronics maker’s stock after acquiring an additional 2,606 shares during the quarter. Cambiar Investors LLC owned about 0.12% of Dolby Laboratories worth $8,358,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Strs Ohio boosted its position in Dolby Laboratories by 30.5% during the second quarter. Strs Ohio now owns 32,693 shares of the electronics maker’s stock valued at $2,428,000 after acquiring an additional 7,636 shares during the last quarter. Amalgamated Bank boosted its position in Dolby Laboratories by 0.8% during the second quarter. Amalgamated Bank now owns 27,978 shares of the electronics maker’s stock valued at $2,078,000 after acquiring an additional 214 shares during the last quarter. Retirement Systems of Alabama boosted its position in Dolby Laboratories by 0.7% during the second quarter. Retirement Systems of Alabama now owns 75,051 shares of the electronics maker’s stock valued at $5,573,000 after acquiring an additional 555 shares during the last quarter. Wincap Financial LLC boosted its position in Dolby Laboratories by 9.6% during the second quarter. Wincap Financial LLC now owns 13,532 shares of the electronics maker’s stock valued at $1,005,000 after acquiring an additional 1,188 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in Dolby Laboratories by 10.4% during the second quarter. Teacher Retirement System of Texas now owns 94,547 shares of the electronics maker’s stock valued at $7,021,000 after acquiring an additional 8,888 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Insider Activity

In related news, CEO Kevin J. Yeaman sold 25,000 shares of the firm’s 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 transaction, the chief executive officer owned 114,725 shares of the company’s stock, valued at approximately $8,295,764.75. This trade represents a 17.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Shriram Revankar sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $74.92, for a total transaction of $524,440.00. Following the completion of the transaction, the senior vice president directly owned 70,435 shares in the company, valued at approximately $5,276,990.20. The trade was a 9.04% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 82,000 shares of company stock worth $5,845,440. 38.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Baird R W raised shares of Dolby Laboratories to a “hold” rating in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Dolby Laboratories in a research report on Wednesday, October 8th. Rosenblatt Securities reissued a “buy” rating and set a $95.00 price objective on shares of Dolby Laboratories in a research report on Friday, August 1st. Tigress Financial increased their price objective on shares of Dolby Laboratories from $112.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, August 15th. Finally, Robert W. Baird began coverage on shares of Dolby Laboratories in a research report on Friday, September 5th. They set a “neutral” rating and a $74.00 price objective on the stock. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.75.

Dolby Laboratories Price Performance

DLB stock opened at $66.25 on Friday. Dolby Laboratories has a 1 year low of $64.50 and a 1 year high of $89.66. The stock has a market capitalization of $6.35 billion, a PE ratio of 24.27 and a beta of 0.92. The company’s 50-day moving average is $70.63 and its 200-day moving average is $73.26.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings results on Thursday, July 31st. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. Dolby Laboratories had a net margin of 19.62% and a return on equity of 11.52%. The business had revenue of $315.55 million for the quarter, compared to analysts’ expectations of $305.23 million. During the same quarter last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Company Profile

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.