Dolby Laboratories, Inc. (NYSE:DLB) saw a significant decline in short interest during the month of June. As of June 30th, there was short interest totalling 1,354,900 shares, a decline of 9.5% from the May 30th total of 1,497,400 shares. Based on an average daily volume of 382,100 shares, the days-to-cover ratio is currently 3.5 days. Approximately 2.1% of the company’s shares are short sold.

Shares of DLB stock traded up $0.32 on Monday, reaching $65.28. 241,500 shares of the company were exchanged, compared to its average volume of 419,358. The stock has a market capitalization of $6.60 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 2.10 and a beta of 0.82. The firm has a 50-day simple moving average of $63.53. Dolby Laboratories has a one year low of $58.17 and a one year high of $72.04.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings data on Wednesday, May 1st. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.18. The company had revenue of $338.26 million for the quarter, compared to analysts’ expectations of $337.45 million. Dolby Laboratories had a net margin of 24.93% and a return on equity of 11.12%. The business’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.73 EPS. On average, sell-side analysts predict that Dolby Laboratories will post 2.38 EPS for the current fiscal year.

In other Dolby Laboratories news, SVP Giles Baker sold 8,181 shares of the company’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $65.30, for a total transaction of $534,219.30. Following the sale, the senior vice president now owns 12,499 shares of the company’s stock, valued at $816,184.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Dagmar Dolby sold 15,617 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $65.04, for a total transaction of $1,015,729.68. The disclosure for this sale can be found here. In the last three months, insiders sold 867,572 shares of company stock worth $56,504,960. 40.23% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Penserra Capital Management LLC raised its holdings in shares of Dolby Laboratories by 50.0% in the 1st quarter. Penserra Capital Management LLC now owns 669 shares of the electronics maker’s stock worth $42,000 after acquiring an additional 223 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Dolby Laboratories in the 4th quarter worth about $43,000. Advisory Alpha LLC purchased a new stake in Dolby Laboratories in the 1st quarter valued at about $53,000. Northwestern Mutual Wealth Management Co. increased its stake in Dolby Laboratories by 45.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 1,490 shares of the electronics maker’s stock valued at $94,000 after buying an additional 467 shares during the last quarter. Finally, ETF Managers Group LLC increased its stake in Dolby Laboratories by 8.6% in the 1st quarter. ETF Managers Group LLC now owns 2,264 shares of the electronics maker’s stock valued at $143,000 after buying an additional 179 shares during the last quarter. 56.00% of the stock is currently owned by institutional investors.

DLB has been the topic of a number of research analyst reports. ValuEngine raised shares of Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. B. Riley set a $18.00 price target on shares of TiVo and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Zacks Investment Research cut shares of Inflarx from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Dolby Laboratories has an average rating of “Buy” and a consensus target price of $76.50.

Dolby Laboratories Company 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.

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