Dolby Laboratories, Inc. (NYSE:DLB) Short Interest Down 23.5% in February

Dolby Laboratories, Inc. (NYSE:DLB) was the recipient of a significant drop in short interest in February. As of February 28th, there was short interest totalling 594,200 shares, a drop of 23.5% from the February 13th total of 776,400 shares. Based on an average daily trading volume, of 499,200 shares, the short-interest ratio is currently 1.2 days. Currently, 1.0% of the shares of the stock are sold short.

Dolby Laboratories Trading Up 0.1 %

DLB stock traded up $0.05 during trading on Tuesday, reaching $82.22. 351,127 shares of the stock were exchanged, compared to its average volume of 413,302. Dolby Laboratories has a 1 year low of $66.35 and a 1 year high of $89.66. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of 30.23 and a beta of 1.01. The business has a 50 day moving average price of $81.86 and a 200-day moving average price of $77.66.

Dolby Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 19th. Shareholders of record on Tuesday, February 11th were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Tuesday, February 11th. Dolby Laboratories’s dividend payout ratio is presently 48.53%.

Insider Transactions at Dolby Laboratories

In other news, CAO Ryan Nicholson sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $84.07, for a total value of $588,490.00. Following the transaction, the chief accounting officer now directly owns 29,758 shares of the company’s stock, valued at approximately $2,501,755.06. This trade represents a 19.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Todd Pendleton sold 18,121 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $83.75, for a total transaction of $1,517,633.75. Following the completion of the transaction, the chief marketing officer now directly owns 37,290 shares in the company, valued at approximately $3,123,037.50. This represents a 32.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,121 shares of company stock valued at $5,501,324. Corporate insiders own 38.39% of the company’s stock.

Institutional Investors Weigh In On Dolby Laboratories

A number of institutional investors have recently made changes to their positions in the stock. Savant Capital LLC increased its position in shares of Dolby Laboratories by 2.0% during the fourth quarter. Savant Capital LLC now owns 6,274 shares of the electronics maker’s stock valued at $490,000 after acquiring an additional 125 shares during the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Dolby Laboratories by 0.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 19,522 shares of the electronics maker’s stock valued at $1,525,000 after acquiring an additional 132 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of Dolby Laboratories by 5.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 2,571 shares of the electronics maker’s stock valued at $201,000 after purchasing an additional 136 shares in the last quarter. Mather Group LLC. grew its holdings in shares of Dolby Laboratories by 36.8% in the fourth quarter. Mather Group LLC. now owns 528 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 142 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of Dolby Laboratories by 22.7% in the third quarter. First Horizon Advisors Inc. now owns 790 shares of the electronics maker’s stock valued at $60,000 after purchasing an additional 146 shares in the last quarter. 58.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, January 30th. Barrington Research reaffirmed an “outperform” rating and set a $100.00 target price on shares of Dolby Laboratories in a research note on Thursday, February 13th. Finally, StockNews.com downgraded shares of Dolby Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 31st.

Dolby Laboratories Company Profile

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.