Trigran Investments Inc. Holds Stake in Dolby Laboratories (DLB)
Trigran Investments Inc. maintained its position in Dolby Laboratories (NYSE:DLB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,942 shares of the electronics maker’s stock at the end of the first quarter. Dolby Laboratories comprises approximately 0.2% of Trigran Investments Inc.’s holdings, making the stock its 20th largest position. Trigran Investments Inc.’s holdings in Dolby Laboratories were worth $836,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. James Investment Research Inc. bought a new position in Dolby Laboratories during the first quarter valued at approximately $155,000. US Bancorp DE increased its position in Dolby Laboratories by 4.8% in the first quarter. US Bancorp DE now owns 2,951 shares of the electronics maker’s stock worth $155,000 after buying an additional 135 shares during the period. FNY Partners Fund LP acquired a new position in Dolby Laboratories during the fourth quarter worth approximately $136,000. Pacer Advisors Inc. increased its position in Dolby Laboratories by 9.3% in the third quarter. Pacer Advisors Inc. now owns 4,227 shares of the electronics maker’s stock worth $229,000 after buying an additional 360 shares during the period. Finally, Northeast Financial Consultants Inc purchased a new stake in Dolby Laboratories during the first quarter worth $229,000. 50.65% of the stock is currently owned by institutional investors.
Dolby Laboratories (NYSE DLB) opened at 49.70 on Thursday. The stock’s 50 day moving average is $50.85 and its 200 day moving average is $49.70. Dolby Laboratories has a 12 month low of $44.99 and a 12 month high of $55.02. The firm has a market cap of $5.10 billion, a PE ratio of 27.00 and a beta of 0.73.
Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, April 26th. The electronics maker reported $0.47 EPS for the quarter, meeting analysts’ consensus estimates of $0.47. Dolby Laboratories had a return on equity of 9.91% and a net margin of 18.34%. The firm had revenue of $267.50 million for the quarter, compared to the consensus estimate of $273.84 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts forecast that Dolby Laboratories will post $1.97 earnings per share for the current year.
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A number of analysts recently commented on DLB shares. BidaskClub cut shares of Dolby Laboratories from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Zacks Investment Research lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th. Finally, B. Riley reaffirmed a “neutral” rating and set a $57.00 target price on shares of Dolby Laboratories in a report on Sunday, April 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.00.
In related news, insider Kevin J. Yeaman sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $52.51, for a total transaction of $525,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Lewis Chew sold 14,300 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $50.34, for a total value of $719,862.00. The disclosure for this sale can be found here. Insiders sold 42,300 shares of company stock worth $2,176,762 in the last 90 days. Corporate insiders own 43.80% of the company’s stock.
Dolby Laboratories Company Profile
Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.
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