Short Interest in Dolby Laboratories, Inc. (NYSE:DLB) Decreases By 9.3%

Dolby Laboratories, Inc. (NYSE:DLB) saw a significant decrease in short interest during the month of January. As of January 31st, there was short interest totalling 730,100 shares, a decrease of 9.3% from the January 15th total of 805,400 shares. Approximately 1.2% of the shares of the company are sold short. Based on an average daily volume of 496,800 shares, the days-to-cover ratio is currently 1.5 days.

Dolby Laboratories Price Performance

NYSE DLB opened at $83.72 on Tuesday. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 30.78 and a beta of 0.98. Dolby Laboratories has a one year low of $66.35 and a one year high of $89.66. The business’s fifty day moving average is $80.35 and its 200-day moving average is $76.10.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.58%. The ex-dividend date is Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio (DPR) is currently 48.53%.

Analyst Ratings Changes

DLB has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Rosenblatt Securities reissued a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Thursday, January 30th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday, February 13th.

Insider Activity

In other news, Director Peter C. Gotcher sold 6,079 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the transaction, the director now owns 37,593 shares of the company’s stock, valued at approximately $2,968,343.28. This represents a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the completion of the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at $5,296,257.36. This trade represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,917 shares of company stock valued at $14,861,429. 38.39% of the stock is owned by insiders.

Institutional Investors Weigh In On Dolby Laboratories

Large investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its holdings in Dolby Laboratories by 82.7% during the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after buying an additional 163 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Dolby Laboratories by 436.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after buying an additional 301 shares during the last quarter. Mather Group LLC. lifted its position in Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares during the last quarter. Headlands Technologies LLC bought a new stake in Dolby Laboratories in the fourth quarter valued at approximately $57,000. Finally, First Horizon Advisors Inc. lifted its position in Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

About Dolby Laboratories

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.