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

Dolby Laboratories, Inc. (NYSE:DLB) was the recipient of a significant decrease in short interest in the month of November. As of November 30th, there was short interest totalling 803,400 shares, a decrease of 7.8% from the November 15th total of 871,100 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily volume of 394,700 shares, the days-to-cover ratio is currently 2.0 days.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barrington Research reissued an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research report on Wednesday, November 20th. Rosenblatt Securities raised their target price on shares of Dolby Laboratories from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, StockNews.com upgraded shares of Dolby Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, December 4th.

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $78.96, for a total value of $479,997.84. Following the sale, the director now owns 37,593 shares in the company, valued at $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Ryan Nicholson sold 10,500 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total value of $841,890.00. Following the completion of the transaction, the chief accounting officer now directly owns 24,364 shares in the company, valued at approximately $1,953,505.52. This trade represents a 30.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,091 shares of company stock valued at $12,027,697. 39.54% of the stock is owned by company insiders.

Institutional Trading of Dolby Laboratories

Several hedge funds have recently modified their holdings of DLB. Lord Abbett & CO. LLC boosted its position in shares of Dolby Laboratories by 5.8% during the 3rd quarter. Lord Abbett & CO. LLC now owns 284,466 shares of the electronics maker’s stock worth $21,771,000 after purchasing an additional 15,546 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Dolby Laboratories by 22.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,247 shares of the electronics maker’s stock valued at $3,513,000 after acquiring an additional 8,509 shares during the period. Synovus Financial Corp boosted its stake in shares of Dolby Laboratories by 10.8% during the 3rd quarter. Synovus Financial Corp now owns 32,062 shares of the electronics maker’s stock worth $2,454,000 after acquiring an additional 3,113 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Dolby Laboratories by 4.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker’s stock worth $117,767,000 after acquiring an additional 63,293 shares during the period. Finally, Disciplined Growth Investors Inc. MN increased its stake in Dolby Laboratories by 4.5% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 1,466,212 shares of the electronics maker’s stock valued at $112,209,000 after purchasing an additional 63,589 shares in the last quarter. 58.56% of the stock is owned by institutional investors and hedge funds.

Dolby Laboratories Trading Up 0.1 %

Shares of Dolby Laboratories stock traded up $0.08 on Monday, reaching $79.26. 100,987 shares of the stock were exchanged, compared to its average volume of 412,159. The firm has a market capitalization of $7.56 billion, a PE ratio of 29.22 and a beta of 0.98. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $87.12. The business has a fifty day moving average price of $75.86 and a two-hundred day moving average price of $75.76.

Dolby Laboratories Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, December 3rd were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.67%. This is an increase from Dolby Laboratories’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, December 3rd. Dolby Laboratories’s dividend payout ratio is 48.71%.

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.