Aigen Investment Management LP Takes $1.50 Million Position in Dolby Laboratories, Inc. (NYSE:DLB)

Aigen Investment Management LP purchased a new stake in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 19,640 shares of the electronics maker's stock, valued at approximately $1,503,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Dolby Laboratories by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker's stock valued at $544,711,000 after purchasing an additional 107,713 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Dolby Laboratories by 2.6% in the 2nd quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker's stock worth $185,791,000 after buying an additional 60,114 shares during the period. Disciplined Growth Investors Inc. MN raised its position in Dolby Laboratories by 0.8% in 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 period. Boston Trust Walden Corp raised its holdings in shares of Dolby Laboratories by 185.3% in the third quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker's stock worth $82,276,000 after buying an additional 698,283 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Dolby Laboratories by 3.5% in the second quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker's stock valued at $80,041,000 after purchasing an additional 33,848 shares during the period. 58.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dolby Laboratories

In other news, CEO Kevin J. Yeaman sold 28,512 shares of the company's stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $74.12, for a total value of $2,113,309.44. Following the transaction, the chief executive officer now owns 83,721 shares of the company's stock, valued at approximately $6,205,400.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 39.54% of the company's stock.

Analyst Ratings Changes

DLB has been the subject of a number of analyst reports. StockNews.com raised Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a report on Friday. Barrington Research reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Dolby Laboratories in a report on Friday, September 20th.

Dolby Laboratories Price Performance

DLB traded down $1.55 during trading on Tuesday, hitting $73.92. 317,802 shares of the stock traded hands, compared to its average volume of 396,147. The firm has a 50-day moving average of $73.35 and a 200 day moving average of $76.30. Dolby Laboratories, Inc. has a 12-month low of $66.35 and a 12-month high of $90.06. The firm has a market capitalization of $7.05 billion, a P/E ratio of 34.34 and a beta of 0.98.

Dolby Laboratories announced that its board has initiated a share repurchase plan on Wednesday, August 7th that permits the company to buyback $350.00 million in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Dolby Laboratories 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.