Snyder Capital Management L P Increases Stock Position in Dolby Laboratories $DLB

Snyder Capital Management L P lifted its holdings in Dolby Laboratories (NYSE:DLB) by 11.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,147,350 shares of the electronics maker’s stock after buying an additional 117,229 shares during the quarter. Dolby Laboratories makes up about 1.6% of Snyder Capital Management L P’s holdings, making the stock its 22nd biggest holding. Snyder Capital Management L P owned 1.20% of Dolby Laboratories worth $83,034,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in Dolby Laboratories by 3.5% in the first quarter. Royal Bank of Canada now owns 68,367 shares of the electronics maker’s stock worth $5,491,000 after purchasing an additional 2,298 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Dolby Laboratories by 218.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 249,574 shares of the electronics maker’s stock worth $20,043,000 after buying an additional 171,288 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Dolby Laboratories by 5.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 238,216 shares of the electronics maker’s stock valued at $19,131,000 after buying an additional 12,598 shares in the last quarter. Focus Partners Wealth purchased a new position in Dolby Laboratories during the first quarter valued at $390,000. Finally, Amalgamated Bank boosted its holdings in Dolby Laboratories by 0.8% in the second quarter. Amalgamated Bank now owns 27,978 shares of the electronics maker’s stock worth $2,078,000 after acquiring an additional 214 shares in the last quarter. 58.56% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories Stock Up 0.1%

Shares of DLB stock opened at $64.80 on Thursday. The company has a 50 day moving average price of $64.24 and a 200-day moving average price of $67.38. Dolby Laboratories has a 52 week low of $60.14 and a 52 week high of $84.15. The firm has a market capitalization of $6.19 billion, a PE ratio of 26.13 and a beta of 0.84.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings data on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The company had revenue of $346.71 million for the quarter, compared to the consensus estimate of $341.26 million. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current year.

Dolby Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $1.44 annualized dividend and a dividend yield of 2.2%. Dolby Laboratories’s payout ratio is presently 58.06%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DLB. Barrington Research reduced their price target on Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Monday, January 26th. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a research note on Monday, December 29th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 target price on shares of Dolby Laboratories in a report on Friday, January 30th. Finally, Wall Street Zen cut shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.75.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, SVP John D. Couling sold 7,273 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $68.75, for a total value of $500,018.75. Following the transaction, the senior vice president owned 108,065 shares of the company’s stock, valued at approximately $7,429,468.75. This represents a 6.31% 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 2,491 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $67.26, for a total value of $167,544.66. Following the sale, the executive vice president owned 70,563 shares of the company’s stock, valued at approximately $4,746,067.38. This represents a 3.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 92,424 shares of company stock valued at $6,196,501 in the last 90 days. 37.93% of the stock is owned by company insiders.

Dolby Laboratories Profile

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.