D.A. Davidson & CO. increased its stake in Dolby Laboratories (NYSE:DLB) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,566 shares of the electronics maker’s stock after purchasing an additional 672 shares during the quarter. D.A. Davidson & CO.’s holdings in Dolby Laboratories were worth $1,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in DLB. Watermark Asset Management Inc. purchased a new position in shares of Dolby Laboratories in the first quarter valued at $114,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Dolby Laboratories by 9.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock valued at $114,000 after purchasing an additional 209 shares in the last quarter. US Bancorp DE grew its position in shares of Dolby Laboratories by 2.6% in the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after purchasing an additional 78 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Dolby Laboratories by 4.6% in the second quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock valued at $227,000 after purchasing an additional 205 shares in the last quarter. Finally, CrestPoint Capital Management LLC purchased a new position in shares of Dolby Laboratories in the second quarter valued at $240,000. Institutional investors own 51.87% of the company’s stock.

Several brokerages have recently weighed in on DLB. Dougherty & Co reiterated a “buy” rating and issued a $63.00 price target on shares of Dolby Laboratories in a research report on Wednesday, September 13th. B. Riley reiterated a “buy” rating and issued a $61.50 price target on shares of Dolby Laboratories in a research report on Thursday, September 14th. Piper Jaffray Companies reiterated a “hold” rating and issued a $52.00 price target (up from $49.00) on shares of Dolby Laboratories in a research report on Wednesday, September 13th. BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research cut Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $57.30.

In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $52.22, for a total value of $5,222,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark Andrew Sherman sold 14,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.25, for a total value of $787,500.00. The disclosure for this sale can be found here. Insiders sold a total of 1,419,000 shares of company stock valued at $71,701,100 in the last quarter. 43.80% of the stock is currently owned by company insiders.

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Dolby Laboratories (NYSE:DLB) opened at 58.18 on Monday. Dolby Laboratories has a 12 month low of $44.99 and a 12 month high of $59.79. The stock has a 50 day moving average price of $51.48 and a 200 day moving average price of $51.27. The stock has a market capitalization of $5.97 billion, a PE ratio of 29.76 and a beta of 0.81.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Tuesday, July 25th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.10. Dolby Laboratories had a return on equity of 10.25% and a net margin of 19.02%. The business had revenue of $305.67 million during the quarter, compared to analyst estimates of $296.88 million. During the same quarter in the prior year, the business posted $0.62 EPS. Dolby Laboratories’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Dolby Laboratories will post $1.99 earnings per share for the current fiscal year.

Dolby Laboratories Profile

Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.

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

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