Van ECK Associates Corp Increases Stake in Dolby Laboratories, Inc. (NYSE:DLB)

Van ECK Associates Corp grew its holdings in Dolby Laboratories, Inc. (NYSE:DLB - Free Report) by 40.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,881 shares of the electronics maker's stock after buying an additional 9,967 shares during the period. Van ECK Associates Corp's holdings in Dolby Laboratories were worth $2,535,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Blue Trust Inc. grew its position in Dolby Laboratories by 398.8% in the second quarter. Blue Trust Inc. now owns 414 shares of the electronics maker's stock worth $35,000 after acquiring an additional 331 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of Dolby Laboratories in the 2nd quarter worth approximately $37,000. GAMMA Investing LLC increased its position in shares of Dolby Laboratories by 64.6% during the 2nd quarter. GAMMA Investing LLC now owns 489 shares of the electronics maker's stock valued at $39,000 after purchasing an additional 192 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in Dolby Laboratories by 192.4% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 576 shares of the electronics maker's stock valued at $46,000 after buying an additional 379 shares during the period. Finally, Headlands Technologies LLC lifted its position in Dolby Laboratories by 693.3% in the first quarter. Headlands Technologies LLC now owns 595 shares of the electronics maker's stock worth $50,000 after buying an additional 520 shares during the last quarter. 58.56% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the company's stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total transaction of $2,113,309.44. Following the completion of the sale, the chief executive officer now directly owns 83,721 shares in the company, valued at $6,205,400.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 39.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DLB. StockNews.com raised shares of Dolby Laboratories from a "buy" rating to a "strong-buy" rating in a research report on Friday. Barrington Research reissued an "outperform" rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research note on Friday, September 20th.

Dolby Laboratories Stock Performance

Dolby Laboratories stock traded up $0.29 during midday trading on Monday, hitting $75.45. 232,724 shares of the company's stock were exchanged, compared to its average volume of 396,507. Dolby Laboratories, Inc. has a 12 month low of $66.35 and a 12 month high of $90.06. The company has a market cap of $7.19 billion, a PE ratio of 34.28 and a beta of 0.98. The firm has a 50-day moving average of $73.26 and a two-hundred day moving average of $76.33.

Dolby Laboratories declared that its Board of Directors has authorized a stock buyback program on Wednesday, August 7th that allows the company to buyback $350.00 million in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

About Dolby Laboratories

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.