Dolby Laboratories, Inc. (NYSE:DLB) Short Interest Down 9.3% in January

Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report) was the target 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. Based on an average daily volume of 496,800 shares, the short-interest ratio is presently 1.5 days. Currently, 1.2% of the company's stock are sold short.

Analyst Ratings Changes

Several research firms recently weighed in on DLB. StockNews.com lowered shares of Dolby Laboratories from a "strong-buy" rating to a "buy" rating in a research note on Friday, January 31st. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, January 30th. Finally, Barrington Research reiterated an "outperform" rating and set a $100.00 price objective on shares of Dolby Laboratories in a research note on Thursday, February 13th.

Dolby Laboratories Stock Performance

Shares of NYSE:DLB traded down $0.90 during trading hours on Friday, hitting $81.42. The stock had a trading volume of 646,093 shares, compared to its average volume of 481,564. The stock's fifty day simple moving average is $80.61 and its 200 day simple moving average is $76.31. Dolby Laboratories has a 1-year low of $66.35 and a 1-year high of $89.66. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 29.94 and a beta of 0.98.

Dolby Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were paid a $0.33 dividend. The ex-dividend date was Tuesday, February 11th. This represents a $1.32 annualized dividend and a dividend yield of 1.62%. Dolby Laboratories's payout ratio is currently 48.53%.

Insider Transactions at Dolby Laboratories

In other news, SVP John D. Couling sold 7,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $80.50, for a total transaction of $563,500.00. Following the transaction, the senior vice president now owns 106,806 shares of the company's stock, valued at approximately $8,597,883. This trade represents a 6.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin J. Yeaman sold 50,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $80.54, for a total transaction of $4,027,000.00. Following the sale, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,742,889.34. This trade represents a 37.39 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,959 shares of company stock valued at $11,897,065. Insiders own 38.39% of the company's stock.

Institutional Investors Weigh In On Dolby Laboratories

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of Dolby Laboratories by 82.7% in the fourth quarter. Fifth Third Bancorp now owns 360 shares of the electronics maker's stock valued at $28,000 after purchasing an additional 163 shares during the period. Nisa Investment Advisors LLC increased 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 valued at $29,000 after purchasing an additional 301 shares during the period. Mather Group LLC. increased 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 valued at $41,000 after purchasing an additional 142 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Dolby Laboratories in the fourth quarter valued at approximately $57,000. Finally, GAMMA Investing LLC increased its stake in shares of Dolby Laboratories by 207.5% in the fourth quarter. GAMMA Investing LLC now owns 778 shares of the electronics maker's stock valued at $61,000 after purchasing an additional 525 shares during the period. Institutional investors and hedge funds 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.