Two Sigma Advisers LP raised its position in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 339,020 shares of the electronics maker’s stock after acquiring an additional 31,600 shares during the period. Two Sigma Advisers LP owned approximately 0.33% of Dolby Laboratories worth $20,965,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Penserra Capital Management LLC bought a new position in shares of Dolby Laboratories in the fourth quarter worth about $27,000. Essex Savings Bank purchased a new stake in Dolby Laboratories in the fourth quarter worth about $28,000. Cutler Group LP purchased a new stake in Dolby Laboratories in the fourth quarter worth about $30,000. Enlightenment Research LLC purchased a new stake in Dolby Laboratories in the fourth quarter worth about $31,000. Finally, NumerixS Investment Technologies Inc purchased a new stake in Dolby Laboratories in the fourth quarter worth about $43,000. Institutional investors and hedge funds own 56.39% of the company’s stock.
In related news, major shareholder Dagmar Dolby sold 52,254 shares of the stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $65.39, for a total value of $3,416,889.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kevin J. Yeaman sold 100,000 shares of the stock in a transaction that occurred on Friday, February 8th. The stock was sold at an average price of $63.70, for a total transaction of $6,370,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 834,048 shares of company stock worth $54,084,769. Corporate insiders own 40.23% of the company’s stock.
Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, January 30th. The electronics maker reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.40. Dolby Laboratories had a net margin of 25.47% and a return on equity of 11.30%. The firm had revenue of $302.40 million for the quarter, compared to the consensus estimate of $295.04 million. During the same quarter in the prior year, the company posted ($0.80) earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, sell-side analysts expect that Dolby Laboratories, Inc. will post 2.24 EPS for the current year.
A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, January 17th. Barrington Research reissued a “buy” rating and set a $85.00 price target on shares of Dolby Laboratories in a research report on Thursday, January 31st. Finally, ValuEngine lowered shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $75.75.
WARNING: “Two Sigma Advisers LP Raises Holdings in Dolby Laboratories, Inc. (NYSE:DLB)” was first reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this article on another website, it was copied illegally and reposted in violation of international copyright legislation. The original version of this article can be read at https://www.baseballdailydigest.com/news/2019/04/15/two-sigma-advisers-lp-has-20-97-million-position-in-dolby-laboratories-inc-dlb.html.
Dolby Laboratories Profile
Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.
Recommended Story: What are the advantages of the Stochastic Momentum Index?
Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.