NN Investment Partners Holdings N.V. Trims Holdings in Dolby Laboratories, Inc. (NYSE:DLB)
NN Investment Partners Holdings N.V. trimmed its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 50.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,200 shares of the electronics maker’s stock after selling 12,300 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in Dolby Laboratories were worth $805,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Pacifica Partners Inc. bought a new stake in Dolby Laboratories during the 1st quarter valued at approximately $33,000. Column Capital Advisors LLC bought a new stake in Dolby Laboratories during the 1st quarter valued at approximately $34,000. Carroll Financial Associates Inc. boosted its position in Dolby Laboratories by 658.1% during the 1st quarter. Carroll Financial Associates Inc. now owns 940 shares of the electronics maker’s stock valued at $50,000 after acquiring an additional 816 shares in the last quarter. CENTRAL TRUST Co boosted its position in Dolby Laboratories by 545.6% during the 1st quarter. CENTRAL TRUST Co now owns 1,401 shares of the electronics maker’s stock valued at $76,000 after acquiring an additional 1,184 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Dolby Laboratories by 53.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,487 shares of the electronics maker’s stock valued at $97,000 after acquiring an additional 520 shares in the last quarter. 58.75% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have weighed in on DLB. TheStreet raised Dolby Laboratories from a “c+” rating to a “b-” rating in a research report on Monday, June 15th. B. Riley cut Dolby Laboratories from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $68.00 to $72.00 in a research report on Wednesday, June 24th. They noted that the move was a valuation call. Zacks Investment Research cut Dolby Laboratories from a “hold” rating to a “sell” rating and set a $61.00 price target on the stock. in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. dropped their price target on Dolby Laboratories from $66.00 to $65.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Dolby Laboratories has a consensus rating of “Buy” and a consensus target price of $67.00.
Shares of DLB opened at $69.60 on Friday. The business’s 50 day moving average price is $66.18 and its 200-day moving average price is $63.11. Dolby Laboratories, Inc. has a 52 week low of $44.68 and a 52 week high of $73.20. The stock has a market cap of $6.95 billion, a P/E ratio of 32.25, a P/E/G ratio of 3.19 and a beta of 0.88.
Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Monday, May 4th. The electronics maker reported $1.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.05). The business had revenue of $351.82 million during the quarter, compared to the consensus estimate of $361.35 million. Dolby Laboratories had a net margin of 17.74% and a return on equity of 9.45%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the company posted $1.04 earnings per share. As a group, sell-side analysts forecast that Dolby Laboratories, Inc. will post 1.66 EPS for the current fiscal year.
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, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.
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