Raymond James & Associates raised its position in Dolby Laboratories, Inc. (NYSE:DLB) by 4.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 338,317 shares of the electronics maker’s stock after purchasing an additional 13,144 shares during the period. Raymond James & Associates owned about 0.33% of Dolby Laboratories worth $20,871,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Contravisory Investment Management Inc. acquired a new stake in shares of Dolby Laboratories during the second quarter valued at $136,000. Commonwealth Equity Services LLC acquired a new stake in shares of Dolby Laboratories during the first quarter valued at $203,000. WINTON GROUP Ltd acquired a new stake in shares of Dolby Laboratories during the first quarter valued at $206,000. Jane Street Group LLC acquired a new stake in shares of Dolby Laboratories during the first quarter valued at $253,000. Finally, Hartford Investment Management Co. acquired a new stake in shares of Dolby Laboratories during the second quarter valued at $294,000. 56.25% of the stock is currently owned by institutional investors.

Shares of NYSE:DLB opened at $70.97 on Friday. Dolby Laboratories, Inc. has a 12-month low of $56.50 and a 12-month high of $74.29. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 32.26, a price-to-earnings-growth ratio of 2.50 and a beta of 0.80.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, July 25th. The electronics maker reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.23. Dolby Laboratories had a return on equity of 12.95% and a net margin of 8.18%. The firm had revenue of $317.45 million for the quarter, compared to analyst estimates of $317.65 million. During the same period last year, the company earned $0.73 EPS. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. equities analysts predict that Dolby Laboratories, Inc. will post 2.37 earnings per share for the current year.

In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $65.22, for a total value of $3,261,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mark Andrew Sherman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $70.00, for a total value of $700,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 777,000 shares of company stock worth $49,449,939. 43.80% of the stock is owned by corporate insiders.

A number of analysts recently commented on the company. Tigress Financial reaffirmed a “buy” rating on shares of Dolby Laboratories in a research note on Friday, September 7th. R. F. Lafferty assumed coverage on Dolby Laboratories in a research note on Wednesday, September 5th. They set a “buy” rating and a $81.00 price objective on the stock. Barrington Research reaffirmed a “buy” rating and set a $78.00 price objective on shares of Dolby Laboratories in a research note on Thursday, July 26th. B. Riley increased their price objective on Dolby Laboratories from $61.00 to $69.00 and gave the company a “neutral” rating in a research note on Thursday, July 26th. Finally, ValuEngine raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $74.20.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, including Dolby Digital Plus for digital television, mobile, and Internet-based services; Dolby Digital, a digital audio coding technology that provides multichannel sound in the home; and AAC & HE-AAC, an audio coding technologies used to broadcast, download, and streaming content.

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

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