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

Dolby Laboratories, Inc. (NYSE:DLB) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 662,300 shares, a decline of 10.2% from the August 15th total of 737,500 shares. Based on an average 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.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DLB. Cubist Systematic Strategies LLC acquired a new stake in shares of Dolby Laboratories in the 2nd quarter worth $146,000. Sanctuary Advisors LLC acquired a new stake in shares of Dolby Laboratories in the 2nd quarter worth $2,460,000. Disciplined Growth Investors Inc. MN increased its position in shares of Dolby Laboratories by 0.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock worth $111,130,000 after purchasing an additional 10,852 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Dolby Laboratories during the 2nd quarter worth about $2,545,000. Finally, Mackenzie Financial Corp increased its position in shares of Dolby Laboratories by 3.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock worth $80,041,000 after purchasing an additional 33,848 shares during the last quarter. Hedge funds and other institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Price Performance

Shares of DLB stock traded up $0.79 during mid-day trading on Wednesday, hitting $72.67. 379,019 shares of the stock traded hands, compared to its average volume of 415,162. The stock has a market cap of $6.96 billion, a P/E ratio of 37.04 and a beta of 0.97. The stock’s fifty day moving average is $73.75 and its two-hundred day moving average is $78.44. Dolby Laboratories has a 52-week low of $66.35 and a 52-week high of $90.06.

Dolby Laboratories (NYSE:DLB) last issued its quarterly earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share 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 company had revenue of $288.82 million for the quarter, compared to the consensus estimate of $286.26 million. As a group, equities 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. Shareholders 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 1.65%. Dolby Laboratories’s payout ratio is currently 61.22%.

Analyst Upgrades and Downgrades

DLB has been the subject of several research analyst reports. Barrington Research reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Dolby Laboratories in a research report on Friday, August 9th. Rosenblatt Securities reaffirmed a “buy” rating and set a $98.00 price target on shares of Dolby Laboratories in a report on Friday, June 7th.

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.