Dolby Laboratories, Inc. (NYSE:DLB) Short Interest Update

Dolby Laboratories, Inc. (NYSE:DLB) was the target of a significant drop in short interest during the month of October. As of October 15th, there was short interest totalling 899,200 shares, a drop of 6.6% from the September 30th total of 962,800 shares. Based on an average trading volume of 486,500 shares, the short-interest ratio is presently 1.8 days. Approximately 1.5% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 20th.

Insider Transactions at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of Dolby Laboratories stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the transaction, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 39.54% of the company’s stock.

Institutional Trading of Dolby Laboratories

A number of hedge funds have recently made changes to their positions in DLB. State of Michigan Retirement System grew its position in shares of Dolby Laboratories by 2.1% during the first quarter. State of Michigan Retirement System now owns 14,600 shares of the electronics maker’s stock worth $1,223,000 after buying an additional 300 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Dolby Laboratories by 5.0% during the first quarter. First Trust Direct Indexing L.P. now owns 4,420 shares of the electronics maker’s stock worth $370,000 after buying an additional 211 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Dolby Laboratories by 1.1% during the first quarter. Janney Montgomery Scott LLC now owns 89,912 shares of the electronics maker’s stock worth $7,532,000 after purchasing an additional 1,007 shares during the last quarter. Capstone Investment Advisors LLC lifted its stake in Dolby Laboratories by 226.8% during the first quarter. Capstone Investment Advisors LLC now owns 9,480 shares of the electronics maker’s stock worth $794,000 after purchasing an additional 6,579 shares during the last quarter. Finally, FORA Capital LLC lifted its stake in Dolby Laboratories by 61.7% during the first quarter. FORA Capital LLC now owns 10,292 shares of the electronics maker’s stock worth $862,000 after purchasing an additional 3,926 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Stock Performance

Shares of NYSE DLB opened at $73.39 on Thursday. The firm has a market capitalization of $7.03 billion, a P/E ratio of 37.44 and a beta of 0.97. Dolby Laboratories has a one year low of $66.35 and a one year high of $90.06. The company’s fifty day moving average is $72.82 and its two-hundred day moving average is $76.55.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.14. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. The firm had revenue of $288.82 million during the quarter, compared to the consensus estimate of $286.26 million. On average, sell-side analysts forecast that Dolby Laboratories will post 2.72 earnings per share for the current fiscal year.

Dolby Laboratories announced that its board has authorized a share repurchase program on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to buy up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.64%. The ex-dividend date was Monday, August 19th. Dolby Laboratories’s dividend payout ratio (DPR) is 61.22%.

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.