Short Interest in Dolby Laboratories, Inc. (NYSE:DLB) Decreases By 10.2%

Dolby Laboratories, Inc. (NYSE:DLB) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 662,300 shares, a decrease of 10.2% from the August 15th total of 737,500 shares. Based on an average trading volume of 499,500 shares, the short-interest ratio is currently 1.3 days. Currently, 1.1% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barrington Research restated an “outperform” rating and set a $100.00 price target on shares of Dolby Laboratories in a research report on Friday, August 9th. Rosenblatt Securities restated a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a research report on Friday, June 7th.

Dolby Laboratories Trading Up 0.3 %

DLB stock traded up $0.20 during trading on Tuesday, hitting $71.90. The company had a trading volume of 345,207 shares, compared to its average volume of 415,364. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 36.63 and a beta of 0.97. The business has a 50 day moving average of $73.89 and a 200 day moving average of $78.51. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $90.06.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.14. The business had revenue of $288.82 million during the quarter, compared to the consensus estimate of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. As a group, equities analysts predict that Dolby Laboratories will post 2.72 EPS for the current year.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Monday, August 19th. Dolby Laboratories’s payout ratio is 61.22%.

Institutional Investors Weigh In On Dolby Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of DLB. Mather Group LLC. acquired a new stake in Dolby Laboratories in the 1st quarter valued at about $33,000. Blue Trust Inc. lifted its holdings in Dolby Laboratories by 398.8% in the 2nd quarter. Blue Trust Inc. now owns 414 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 331 shares during the last quarter. Quarry LP acquired a new stake in Dolby Laboratories in the 4th quarter valued at about $37,000. Point72 Hong Kong Ltd acquired a new stake in Dolby Laboratories in the 2nd quarter valued at about $37,000. Finally, GAMMA Investing LLC lifted its holdings in Dolby Laboratories by 64.6% in the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 192 shares during the last quarter. 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.