Dolby Laboratories Sees Unusually High Options Volume (NYSE:DLB)

Dolby Laboratories, Inc. (NYSE:DLB) was the recipient of some unusual options trading on Thursday. Investors purchased 855 call options on the company. This is an increase of 1,349% compared to the average daily volume of 59 call options.

In related news, VP Ryan Nicholson sold 8,197 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $61.04, for a total value of $500,344.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lewis Chew sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $60.33, for a total value of $904,950.00. The disclosure for this sale can be found here. 40.23% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Schroder Investment Management Group lifted its position in Dolby Laboratories by 8.4% during the 2nd quarter. Schroder Investment Management Group now owns 1,162,024 shares of the electronics maker’s stock worth $75,067,000 after acquiring an additional 89,818 shares during the period. Trigran Investments Inc. raised its stake in shares of Dolby Laboratories by 1.2% during the 2nd quarter. Trigran Investments Inc. now owns 245,035 shares of the electronics maker’s stock worth $15,829,000 after buying an additional 2,948 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in shares of Dolby Laboratories during the 3rd quarter worth approximately $769,000. Dean Capital Investments Management LLC raised its stake in shares of Dolby Laboratories by 48.8% during the 3rd quarter. Dean Capital Investments Management LLC now owns 5,054 shares of the electronics maker’s stock worth $327,000 after buying an additional 1,658 shares in the last quarter. Finally, Keeley Teton Advisors LLC raised its stake in shares of Dolby Laboratories by 121.6% during the 2nd quarter. Keeley Teton Advisors LLC now owns 149,373 shares of the electronics maker’s stock worth $9,649,000 after buying an additional 81,971 shares in the last quarter. 57.59% of the stock is owned by institutional investors.

A number of analysts recently issued reports on the company. ValuEngine raised Dolby Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Dougherty & Co reissued a “buy” rating on shares of Dolby Laboratories in a research report on Monday, November 11th. William Blair reissued a “buy” rating on shares of Dolby Laboratories in a research report on Friday, August 2nd. B. Riley raised Dolby Laboratories from a “neutral” rating to a “buy” rating and set a $73.00 target price for the company in a research report on Monday, November 11th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Dolby Laboratories in a research report on Wednesday, September 18th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $77.33.

Dolby Laboratories stock opened at $69.36 on Friday. Dolby Laboratories has a twelve month low of $56.09 and a twelve month high of $71.77. The stock has a 50 day moving average of $64.28 and a two-hundred day moving average of $63.37. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 1.74 and a beta of 0.84.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Thursday, November 14th. The electronics maker reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.05). Dolby Laboratories had a return on equity of 9.00% and a net margin of 21.64%. The company had revenue of $298.80 million for the quarter, compared to analyst estimates of $297.55 million. During the same period in the previous year, the business posted $0.44 earnings per share. The firm’s revenue was up 24.2% compared to the same quarter last year. As a group, equities analysts predict that Dolby Laboratories will post 2.15 EPS for the current year.

About Dolby Laboratories

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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