Short Interest in Dolby Laboratories, Inc. (NYSE:DLB) Increases By 20.3%

by · The Markets Daily

Dolby Laboratories, Inc. (NYSE:DLB – Get Free Report) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 962,800 shares, a growth of 20.3% from the September 15th total of 800,400 shares. Based on an average trading volume of 496,100 shares, the days-to-cover ratio is presently 1.9 days. Approximately 1.6% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a report on Friday, September 20th.

Check Out Our Latest Stock Report on DLB

Dolby Laboratories Stock Up 0.4 %

Shares of NYSE:DLB traded up $0.30 during trading on Monday, hitting $74.36. 265,372 shares of the stock traded hands, compared to its average volume of 412,308. The company has a fifty day moving average price of $72.17 and a two-hundred day moving average price of $77.34. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $90.06. The company has a market cap of $7.13 billion, a price-to-earnings ratio of 37.79 and a beta of 0.97.

Dolby Laboratories (NYSE:DLB – Get Free Report) last posted its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.14. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. The business had revenue of $288.82 million for the quarter, compared to analyst estimates of $286.26 million. On average, equities research analysts predict that Dolby Laboratories will post 2.72 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Monday, August 19th were issued a $0.30 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.61%. Dolby Laboratories’s payout ratio is 61.22%.

Dolby Laboratories declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to buy up to 5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Dolby Laboratories

Institutional investors have recently made changes to their positions in the company. First Affirmative Financial Network increased its position in shares of Dolby Laboratories by 4.9% during the 2nd quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker’s stock worth $219,000 after purchasing an additional 129 shares during the last quarter. LRI Investments LLC boosted its position in shares of Dolby Laboratories by 6.0% during the second quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker’s stock worth $182,000 after buying an additional 130 shares during the period. Signaturefd LLC grew its stake in shares of Dolby Laboratories by 5.1% in the second quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker’s stock valued at $251,000 after buying an additional 153 shares in the last quarter. Mitchell & Pahl Private Wealth LLC raised its holdings in shares of Dolby Laboratories by 1.3% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker’s stock valued at $1,095,000 after buying an additional 174 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of 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 buying an additional 192 shares during the period. Hedge funds and other institutional investors own 58.56% of the company’s stock.

About Dolby Laboratories

(Get Free Report)

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.

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