Short Interest in Dolby Laboratories, Inc. (NYSE:DLB) Decreases By 10.2%

Dolby Laboratories, Inc. (NYSE:DLB) saw a significant decrease in short interest in August. As of August 31st, there was short interest totalling 662,300 shares, a decrease of 10.2% from the August 15th total of 737,500 shares. Based on an average daily trading volume, of 499,500 shares, the days-to-cover ratio is currently 1.3 days. Currently, 1.1% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of research firms have commented on DLB. Rosenblatt Securities reaffirmed a “buy” rating and set a $98.00 price objective on shares of Dolby Laboratories in a research note on Friday, June 7th. Barrington Research reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, August 9th.

Hedge Funds Weigh In On Dolby Laboratories

A number of hedge funds have recently added to or reduced their stakes in DLB. Norges Bank acquired a new position in Dolby Laboratories in the fourth quarter worth approximately $42,067,000. Bank of New York Mellon Corp increased its holdings in Dolby Laboratories by 11.2% in the first quarter. Bank of New York Mellon Corp now owns 2,324,244 shares of the electronics maker’s stock worth $194,702,000 after buying an additional 233,958 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Dolby Laboratories by 39.8% in the second quarter. Acadian Asset Management LLC now owns 652,651 shares of the electronics maker’s stock worth $51,698,000 after buying an additional 185,884 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Dolby Laboratories by 27.0% in the second quarter. Dimensional Fund Advisors LP now owns 792,828 shares of the electronics maker’s stock worth $62,817,000 after buying an additional 168,744 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Dolby Laboratories by 1.7% in the first quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock worth $544,711,000 after buying an additional 107,713 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Dolby Laboratories Stock Up 0.3 %

Shares of DLB traded up $0.20 during trading hours on Tuesday, reaching $71.90. The company’s stock had a trading volume of 345,207 shares, compared to its average volume of 415,364. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of 36.63 and a beta of 0.97. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $90.06. The company has a 50 day moving average of $73.89 and a two-hundred day moving average of $78.51.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $288.82 million for the quarter, compared to the consensus estimate of $286.26 million. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. As a group, analysts forecast that Dolby Laboratories will post 2.72 EPS for the current fiscal year.

Dolby Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were issued a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 dividend on an annualized basis and a yield of 1.67%. Dolby Laboratories’s dividend payout ratio is currently 61.22%.

About Dolby Laboratories

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.