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

Dolby Laboratories, Inc. (NYSE:DLB) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 730,100 shares, a drop of 9.3% from the January 15th total of 805,400 shares. Currently, 1.2% of the shares of the company are short sold. Based on an average trading volume of 496,800 shares, the short-interest ratio is presently 1.5 days.

Dolby Laboratories Stock Performance

NYSE DLB opened at $84.61 on Wednesday. The firm’s fifty day moving average price is $80.46 and its two-hundred day moving average price is $76.16. The stock has a market cap of $8.08 billion, a PE ratio of 31.11 and a beta of 0.98. Dolby Laboratories has a fifty-two week low of $66.35 and a fifty-two week high of $89.66.

Dolby Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.56%. Dolby Laboratories’s payout ratio is presently 48.53%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DLB shares. Barrington Research reissued an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st.

Insiders Place Their Bets

In other news, Director Peter C. Gotcher sold 6,079 shares of Dolby Laboratories stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $78.96, for a total value of $479,997.84. Following the completion of the sale, the director now directly owns 37,593 shares in the company, valued at approximately $2,968,343.28. The trade was a 13.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John D. Couling sold 50,000 shares of Dolby Laboratories stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $80.04, for a total transaction of $4,002,000.00. Following the completion of the sale, the senior vice president now owns 106,806 shares of the company’s stock, valued at approximately $8,548,752.24. The trade was a 31.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 182,917 shares of company stock worth $14,861,429 over the last three months. Insiders own 38.39% of the company’s stock.

Institutional Trading of Dolby Laboratories

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp grew its stake in shares of Dolby Laboratories by 82.7% during the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker’s stock worth $28,000 after buying an additional 163 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Dolby Laboratories by 436.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 370 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 301 shares during the last quarter. Mather Group LLC. grew its stake in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 142 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Dolby Laboratories in the fourth quarter worth $57,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock worth $60,000 after purchasing an additional 146 shares during the last quarter. Institutional investors own 58.56% of the company’s stock.

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.