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

Dolby Laboratories, Inc. (NYSE:DLBGet Free Report) was the recipient of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 1,480,000 shares, an increase of 21.3% from the April 30th total of 1,220,000 shares. Approximately 2.5% of the shares of the company are sold short. Based on an average trading volume of 330,300 shares, the days-to-cover ratio is currently 4.5 days.

Insider Buying and Selling at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,283 shares of the stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $79.62, for a total transaction of $181,772.46. Following the transaction, the executive vice president now owns 58,325 shares in the company, valued at approximately $4,643,836.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 39.54% of the company’s stock.

Hedge Funds Weigh In On Dolby Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in DLB. VisionPoint Advisory Group LLC lifted its stake in Dolby Laboratories by 86.9% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 370 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 172 shares during the last quarter. Blue Trust Inc. lifted its stake in Dolby Laboratories by 75.7% in the 4th quarter. Blue Trust Inc. now owns 369 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 159 shares during the last quarter. Mather Group LLC. bought a new position in Dolby Laboratories in the 1st quarter valued at approximately $33,000. Quarry LP bought a new position in shares of Dolby Laboratories during the fourth quarter valued at $37,000. Finally, Sunbelt Securities Inc. raised its stake in shares of Dolby Laboratories by 1,631.0% during the first quarter. Sunbelt Securities Inc. now owns 502 shares of the electronics maker’s stock valued at $42,000 after acquiring an additional 473 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DLB. upgraded shares of Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, May 11th. Rosenblatt Securities restated a “buy” rating and set a $98.00 target price on shares of Dolby Laboratories in a research report on Monday, April 29th.

Read Our Latest Analysis on DLB

Dolby Laboratories Trading Up 2.2 %

NYSE DLB opened at $81.01 on Friday. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 41.33 and a beta of 0.98. The firm’s 50 day simple moving average is $81.15 and its 200 day simple moving average is $83.08. Dolby Laboratories has a 1 year low of $75.87 and a 1 year high of $91.01.

Dolby Laboratories (NYSE:DLBGet Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The electronics maker reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.10. The business had revenue of $364.52 million for the quarter, compared to analyst estimates of $361.98 million. Dolby Laboratories had a net margin of 15.00% and a return on equity of 10.15%. On average, equities research analysts forecast that Dolby Laboratories will post 2.68 earnings per share for the current year.

Dolby Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Tuesday, May 14th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.48%. The ex-dividend date was Monday, May 13th. Dolby Laboratories’s payout ratio is 61.22%.

Dolby Laboratories Company Profile

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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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