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

Dolby Laboratories, Inc. (NYSE:DLB - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 899,200 shares, a decrease of 6.6% from the September 30th total of 962,800 shares. Approximately 1.5% of the company's shares are sold short. Based on an average trading volume of 486,500 shares, the days-to-cover ratio is presently 1.8 days.

Dolby Laboratories Price Performance

Shares of Dolby Laboratories stock traded down $0.20 during trading hours on Thursday, hitting $73.20. The company had a trading volume of 97,816 shares, compared to its average volume of 401,480. The company's 50-day moving average is $72.82 and its two-hundred day moving average is $76.55. The company has a market cap of $7.02 billion, a P/E ratio of 37.44 and a beta of 0.97. Dolby Laboratories has a twelve month low of $66.35 and a twelve month high of $90.06.

Dolby Laboratories (NYSE:DLB - Get Free Report) last posted its earnings results on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.14. The business had revenue of $288.82 million during the quarter, compared to the consensus estimate of $286.26 million. Dolby Laboratories had a return on equity of 10.66% and a net margin of 16.87%. Sell-side analysts expect that Dolby Laboratories will post 2.72 EPS for the current year.

Dolby Laboratories announced that its board has approved a stock buyback plan on Wednesday, August 7th that authorizes the company to buyback $350.00 million in shares. This buyback authorization authorizes the electronics maker to purchase up to 5% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Dolby Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Monday, August 19th were given a $0.30 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.20 annualized dividend and a yield of 1.64%. Dolby Laboratories's dividend payout ratio (DPR) is 61.22%.

Analyst Ratings Changes

Separately, Barrington Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 20th.

Insider Transactions at Dolby Laboratories

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the business's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value of $2,113,309.44. Following the sale, the chief executive officer now owns 83,721 shares in the company, valued at approximately $6,205,400.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 39.54% of the company's stock.

Institutional Investors Weigh In On Dolby Laboratories

Large investors have recently modified their holdings of the stock. First Affirmative Financial Network raised its stake in shares of Dolby Laboratories by 4.9% during the 2nd quarter. First Affirmative Financial Network now owns 2,766 shares of the electronics maker's stock worth $219,000 after buying an additional 129 shares in the last quarter. LRI Investments LLC boosted its position in shares of Dolby Laboratories by 6.0% during the 2nd quarter. LRI Investments LLC now owns 2,293 shares of the electronics maker's stock worth $182,000 after purchasing an additional 130 shares in the last quarter. Signaturefd LLC grew its stake in shares of Dolby Laboratories by 5.1% during the 2nd quarter. Signaturefd LLC now owns 3,167 shares of the electronics maker's stock worth $251,000 after purchasing an additional 153 shares during the period. Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Dolby Laboratories by 1.3% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 13,817 shares of the electronics maker's stock valued at $1,095,000 after purchasing an additional 174 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Dolby Laboratories by 64.6% during the second quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker's stock worth $39,000 after buying an additional 192 shares in the last quarter. Hedge funds and other 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.