Dolby Laboratories, Inc. (NYSE:DLB) Short Interest Update

Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report) saw a large drop in short interest in November. As of November 30th, there was short interest totalling 803,400 shares, a drop of 7.8% from the November 15th total of 871,100 shares. Based on an average trading volume of 394,700 shares, the short-interest ratio is presently 2.0 days. Currently, 1.4% of the company's stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DLB shares. Barrington Research reaffirmed an "outperform" rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Wednesday, November 20th. Rosenblatt Securities upped their target price on Dolby Laboratories from $98.00 to $100.00 and gave the stock a "buy" rating in a report on Wednesday, November 20th. Finally, StockNews.com raised Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, December 4th.

Insider Activity

In other news, CAO Ryan Nicholson sold 10,500 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $80.18, for a total transaction of $841,890.00. Following the transaction, the chief accounting officer now directly owns 24,364 shares of the company's stock, valued at approximately $1,953,505.52. This trade represents a 30.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Gotcher sold 6,079 shares of the business's 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 owns 37,593 shares of the company's stock, valued at approximately $2,968,343.28. This trade represents a 13.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,091 shares of company stock worth $12,027,697 in the last quarter. Corporate insiders own 39.54% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC raised its stake 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 during the period. Franklin Resources Inc. boosted its stake in Dolby Laboratories by 22.0% in the third 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 last quarter. Synovus Financial Corp boosted its stake in Dolby Laboratories by 10.8% in the third quarter. Synovus Financial Corp now owns 32,062 shares of the electronics maker's stock valued at $2,454,000 after acquiring an additional 3,113 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Dolby Laboratories by 4.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,538,583 shares of the electronics maker's stock valued at $117,767,000 after acquiring an additional 63,293 shares during the period. Finally, Disciplined Growth Investors Inc. MN lifted its stake in Dolby Laboratories by 4.5% in the third 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 during the last quarter. Institutional investors own 58.56% of the company's stock.

Dolby Laboratories Stock Down 1.6 %

Shares of NYSE DLB traded down $1.24 during trading on Monday, reaching $77.94. The company had a trading volume of 539,752 shares, compared to its average volume of 413,989. Dolby Laboratories has a 12 month low of $66.35 and a 12 month high of $87.12. The stock has a market cap of $7.44 billion, a P/E ratio of 29.22 and a beta of 0.98. The company's fifty day moving average price is $75.86 and its 200-day moving average price is $75.76.

Dolby Laboratories Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, December 3rd were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Dolby Laboratories's previous quarterly dividend of $0.30. The ex-dividend date was Tuesday, December 3rd. Dolby Laboratories's dividend payout ratio (DPR) 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.