Dolby Laboratories $DLB is Clifford Capital Partners LLC’s 8th Largest Position

Clifford Capital Partners LLC lifted its position in shares of Dolby Laboratories (NYSE:DLB) by 15.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 304,311 shares of the electronics maker’s stock after acquiring an additional 40,252 shares during the quarter. Dolby Laboratories makes up approximately 3.8% of Clifford Capital Partners LLC’s portfolio, making the stock its 8th biggest position. Clifford Capital Partners LLC’s holdings in Dolby Laboratories were worth $22,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Dolby Laboratories by 7.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,777 shares of the electronics maker’s stock worth $1,172,000 after acquiring an additional 1,146 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Dolby Laboratories during the 3rd quarter valued at about $615,000. Alps Advisors Inc. increased its position in Dolby Laboratories by 6.7% during the 3rd quarter. Alps Advisors Inc. now owns 281,532 shares of the electronics maker’s stock valued at $20,374,000 after purchasing an additional 17,592 shares during the period. Meeder Asset Management Inc. raised its holdings in shares of Dolby Laboratories by 787.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 27,526 shares of the electronics maker’s stock valued at $1,992,000 after purchasing an additional 24,423 shares in the last quarter. Finally, Summit Creek Advisors LLC raised its holdings in shares of Dolby Laboratories by 24.9% in the 3rd quarter. Summit Creek Advisors LLC now owns 125,034 shares of the electronics maker’s stock valued at $9,049,000 after purchasing an additional 24,905 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DLB. Barrington Research dropped their price objective on shares of Dolby Laboratories from $95.00 to $90.00 and set an “outperform” rating on the stock in a research note on Monday, January 26th. Wall Street Zen downgraded shares of Dolby Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings restated a “hold (c-)” rating on shares of Dolby Laboratories in a report on Monday, December 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $85.00 target price on shares of Dolby Laboratories in a research report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Dolby Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $90.75.

Insiders Place Their Bets

In other Dolby Laboratories news, SVP Shriram Revankar sold 3,000 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $66.14, for a total value of $198,420.00. Following the completion of the sale, the senior vice president directly owned 83,218 shares in the company, valued at approximately $5,504,038.52. This trade represents a 3.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kevin J. Yeaman sold 26,766 shares of the firm’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $66.74, for a total value of $1,786,362.84. Following the completion of the sale, the chief executive officer directly owned 105,128 shares of the company’s stock, valued at approximately $7,016,242.72. This represents a 20.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 50,784 shares of company stock valued at $3,391,144. 37.93% of the stock is currently owned by corporate insiders.

Dolby Laboratories Stock Down 3.8%

NYSE DLB opened at $60.54 on Friday. Dolby Laboratories has a 52 week low of $60.14 and a 52 week high of $83.25. The company has a 50 day moving average price of $64.10 and a 200 day moving average price of $66.89. The firm has a market cap of $5.78 billion, a PE ratio of 24.41 and a beta of 0.84.

Dolby Laboratories (NYSE:DLB) last announced its earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.07. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The company had revenue of $346.71 million during the quarter, compared to the consensus estimate of $341.26 million. During the same period last year, the firm earned $1.14 earnings per share. Dolby Laboratories’s revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that Dolby Laboratories will post 2.94 earnings per share for the current fiscal year.

Dolby Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 18th. Investors of record on Tuesday, February 10th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 2.4%. The ex-dividend date was Tuesday, February 10th. Dolby Laboratories’s payout ratio is 58.06%.

About Dolby Laboratories

Dolby Laboratories, Inc is a global leader in audio and imaging technologies, specializing in the development, licensing and deployment of solutions that enhance entertainment and communications experiences. The company’s core business revolves around creating advanced audio codecs, noise reduction systems and spatial sound technologies for a wide range of applications, including cinema, broadcast, gaming, streaming and personal devices. Dolby’s licensing model enables consumer electronics manufacturers, content creators and service providers to integrate its technologies into products such as televisions, smartphones, home theater systems and set-top boxes.

Among its flagship innovations are Dolby Atmos, an immersive audio format that delivers three-dimensional soundscapes for theaters and home systems; Dolby Digital and Dolby Digital Plus, widely adopted audio compression formats for broadcast and streaming; and Dolby Vision, a high-dynamic-range imaging technology that expands color, contrast and brightness in displays.