Dolby Laboratories, Inc. (NYSE:DLB) Sees Significant Drop in Short Interest

Dolby Laboratories, Inc. (NYSE:DLB) was the recipient of a significant drop in short interest in the month of January. As of January 31st, there was short interest totalling 730,100 shares, a drop of 9.3% from the January 15th total of 805,400 shares. Approximately 1.2% of the shares of the company are short sold. Based on an average trading volume of 496,800 shares, the short-interest ratio is currently 1.5 days.

Dolby Laboratories Price Performance

NYSE DLB traded down $0.56 during trading hours on Monday, reaching $83.72. 440,257 shares of the stock traded hands, compared to its average volume of 503,875. The stock has a 50 day simple moving average of $80.26 and a two-hundred day simple moving average of $76.06. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $89.66. The company has a market cap of $7.99 billion, a price-to-earnings ratio of 30.78 and a beta of 0.98.

Dolby Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Investors of record on Tuesday, February 11th will be given a $0.33 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a yield of 1.58%. Dolby Laboratories’s payout ratio is 48.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. StockNews.com downgraded Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Barrington Research restated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Thursday.

Insider Transactions at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 7,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the sale, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This represents a 19.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark Andrew Sherman sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $84.88, for a total transaction of $3,395,200.00. Following the transaction, the executive vice president now directly owns 62,397 shares of the company’s stock, valued at approximately $5,296,257.36. This represents a 39.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 182,917 shares of company stock valued at $14,861,429 over the last three months. Company insiders own 38.39% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp boosted its stake in shares of Dolby Laboratories by 82.7% in the 4th quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 163 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Dolby Laboratories by 436.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after buying an additional 301 shares during the period. Mather Group LLC. grew its stake in shares of Dolby Laboratories by 36.8% during the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after buying an additional 142 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of Dolby Laboratories in the fourth quarter worth about $57,000. Finally, GAMMA Investing LLC boosted its holdings in Dolby Laboratories by 207.5% during the 4th quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker’s stock valued at $61,000 after acquiring an additional 525 shares during the period. 58.56% of the stock is currently owned by institutional investors.

Dolby Laboratories Company Profile

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.