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

Dolby Laboratories, Inc. (NYSE:DLB) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 594,200 shares, a decline of 23.5% from the February 13th total of 776,400 shares. Based on an average trading volume of 499,200 shares, the short-interest ratio is presently 1.2 days. Currently, 1.0% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DLB. StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, January 30th. Finally, Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Thursday, February 13th.

Dolby Laboratories Stock Performance

NYSE:DLB traded up $0.52 on Monday, reaching $82.45. The company’s stock had a trading volume of 124,749 shares, compared to its average volume of 491,912. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $89.66. The firm has a market cap of $7.87 billion, a PE ratio of 30.31 and a beta of 1.01. The business’s 50-day moving average price is $81.69 and its two-hundred day moving average price is $77.51.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 19th. Stockholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.60%. Dolby Laboratories’s dividend payout ratio is currently 48.53%.

Insider Activity at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $84.07, for a total transaction of $588,490.00. Following the completion of the sale, the chief accounting officer now owns 29,758 shares in the company, valued at $2,501,755.06. The trade was a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark Andrew Sherman sold 12,338 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $78.08, for a total value of $963,351.04. Following the sale, the executive vice president now owns 62,397 shares of the company’s stock, valued at approximately $4,871,957.76. The trade was a 16.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 77,459 shares of company stock worth $6,464,675 over the last three months. Company insiders own 38.39% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Vise Technologies Inc. acquired a new position in shares of Dolby Laboratories during the fourth quarter worth about $308,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Dolby Laboratories by 3.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 225,618 shares of the electronics maker’s stock worth $17,621,000 after buying an additional 6,640 shares during the period. Squarepoint Ops LLC boosted its position in shares of Dolby Laboratories by 247.2% during the fourth quarter. Squarepoint Ops LLC now owns 191,675 shares of the electronics maker’s stock worth $14,970,000 after buying an additional 136,465 shares during the period. Two Sigma Advisers LP boosted its position in Dolby Laboratories by 20.4% during the fourth quarter. Two Sigma Advisers LP now owns 29,500 shares of the electronics maker’s stock valued at $2,304,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Teza Capital Management LLC acquired a new position in Dolby Laboratories during the fourth quarter valued at approximately $588,000. 58.56% of the stock is owned by institutional investors and hedge funds.

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.