Robeco Institutional Asset Management B.V. Takes Position in Dolby Laboratories, Inc. (NYSE:DLB)


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Robeco Institutional Asset Management B.V. acquired a new stake in Dolby Laboratories, Inc. (NYSE:DLB) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,177 shares of the electronics maker’s stock, valued at approximately $2,682,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. increased its holdings in Dolby Laboratories by 9.7% in the fourth quarter. BlackRock Inc. now owns 3,687,383 shares of the electronics maker’s stock valued at $358,155,000 after buying an additional 326,910 shares during the last quarter. Jackson Square Partners LLC purchased a new position in Dolby Laboratories in the fourth quarter valued at $210,338,000. Victory Capital Management Inc. increased its holdings in Dolby Laboratories by 658.7% in the fourth quarter. Victory Capital Management Inc. now owns 706,047 shares of the electronics maker’s stock valued at $68,579,000 after buying an additional 612,992 shares during the last quarter. Norges Bank purchased a new position in Dolby Laboratories in the fourth quarter valued at $67,801,000. Finally, Fiera Capital Corp increased its holdings in Dolby Laboratories by 10.3% in the fourth quarter. Fiera Capital Corp now owns 685,993 shares of the electronics maker’s stock valued at $66,630,000 after buying an additional 63,820 shares during the last quarter. Institutional investors and hedge funds own 58.58% of the company’s stock.

Shares of DLB opened at $103.41 on Tuesday. Dolby Laboratories, Inc. has a fifty-two week low of $52.13 and a fifty-two week high of $104.74. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 45.96, a price-to-earnings-growth ratio of 3.27 and a beta of 0.89. The firm has a 50-day simple moving average of $100.39 and a 200-day simple moving average of $92.69.

Several equities analysts recently commented on the company. Zacks Investment Research raised Dolby Laboratories from a “sell” rating to a “hold” rating and set a $98.00 target price on the stock in a report on Tuesday, February 23rd. Tigress Financial reaffirmed a “buy” rating on shares of Dolby Laboratories in a report on Thursday, February 25th. Barrington Research lowered Dolby Laboratories from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 26th. Finally, B. Riley raised their price objective on Dolby Laboratories from $79.00 to $89.00 and gave the stock a “neutral” rating in a report on Friday, January 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $83.75.

In other news, VP Ryan Nicholson sold 2,237 shares of the stock in a transaction dated Wednesday, February 3rd. The shares were sold at an average price of $91.01, for a total transaction of $203,589.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Todd Pendleton sold 14,469 shares of the firm’s stock in a transaction dated Friday, February 19th. The shares were sold at an average price of $94.08, for a total transaction of $1,361,243.52. The disclosure for this sale can be found here. Insiders have sold 108,640 shares of company stock valued at $10,287,333 in the last quarter. Insiders own 37.30% of the company’s stock.

About Dolby Laboratories

Dolby Laboratoties, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast, and entertainment industries. Its products include Cinema Imaging, Cinema Audio, Dolby Conference Phone, Dolby Voice Room, and Other Products. The company was founded by Ray Milton Dolby in 1965 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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