Dolby Laboratories, Inc. (DLB) Stake Boosted by Renaissance Technologies LLC
Renaissance Technologies LLC grew its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 10.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,458,000 shares of the electronics maker’s stock after acquiring an additional 223,300 shares during the quarter. Renaissance Technologies LLC owned about 2.37% of Dolby Laboratories worth $171,986,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of Dolby Laboratories by 16.2% during the second quarter. Janus Henderson Group PLC now owns 3,801,592 shares of the electronics maker’s stock valued at $234,517,000 after acquiring an additional 530,188 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Dolby Laboratories by 12.4% during the third quarter. BlackRock Inc. now owns 2,924,015 shares of the electronics maker’s stock valued at $204,594,000 after acquiring an additional 323,489 shares in the last quarter. FMR LLC increased its holdings in shares of Dolby Laboratories by 5.1% during the third quarter. FMR LLC now owns 2,607,991 shares of the electronics maker’s stock valued at $182,481,000 after acquiring an additional 127,537 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Dolby Laboratories by 86.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 1,344,217 shares of the electronics maker’s stock valued at $82,925,000 after acquiring an additional 622,618 shares in the last quarter. Finally, Schroder Investment Management Group increased its holdings in shares of Dolby Laboratories by 11.1% during the third quarter. Schroder Investment Management Group now owns 1,115,013 shares of the electronics maker’s stock valued at $78,017,000 after acquiring an additional 111,578 shares in the last quarter. Hedge funds and other institutional investors own 56.19% of the company’s stock.
In related news, Director Peter C. Gotcher sold 3,334 shares of the stock in a transaction that occurred on Thursday, November 1st. The shares were sold at an average price of $70.00, for a total value of $233,380.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Lewis Chew sold 35,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $69.44, for a total transaction of $2,430,400.00. The disclosure for this sale can be found here. 43.80% of the stock is currently owned by corporate insiders.
Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, October 24th. The electronics maker reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.17. Dolby Laboratories had a net margin of 10.43% and a return on equity of 12.72%. The company had revenue of $265.33 million for the quarter, compared to the consensus estimate of $272.42 million. During the same quarter in the prior year, the company earned $0.21 EPS. Analysts expect that Dolby Laboratories, Inc. will post 2.45 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Monday, November 5th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.10%. The ex-dividend date was Friday, November 2nd. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.16. Dolby Laboratories’s dividend payout ratio is 31.67%.
Several research firms have recently issued reports on DLB. Zacks Investment Research restated a “sell” rating on shares of Dolby Laboratories in a report on Tuesday, November 13th. B. Riley set a $67.00 price target on shares of Dolby Laboratories and gave the stock a “hold” rating in a report on Tuesday. R. F. Lafferty started coverage on shares of Dolby Laboratories in a report on Wednesday, September 5th. They issued a “buy” rating and a $81.00 price target on the stock. Finally, Tigress Financial reiterated a “buy” rating on shares of Dolby Laboratories in a report on Friday, September 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $73.60.
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Dolby Laboratories Company Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.
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