Dolby Laboratories $DLB Holdings Lifted by Clifford Capital Partners LLC

Clifford Capital Partners LLC boosted its holdings in Dolby Laboratories (NYSE:DLB) by 15.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 304,311 shares of the electronics maker’s stock after purchasing an additional 40,252 shares during the quarter. Dolby Laboratories makes up approximately 3.8% of Clifford Capital Partners LLC’s holdings, making the stock its 8th biggest position. Clifford Capital Partners LLC owned 0.32% of Dolby Laboratories worth $22,023,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Dolby Laboratories by 7.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,777 shares of the electronics maker’s stock valued at $1,172,000 after acquiring an additional 1,146 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in Dolby Laboratories in the 3rd quarter worth $615,000. Alps Advisors Inc. boosted its holdings in shares of 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 last quarter. Meeder Asset Management Inc. boosted its holdings in shares of Dolby Laboratories by 787.1% during 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 during the last quarter. Finally, Summit Creek Advisors LLC grew its position in shares of Dolby Laboratories by 24.9% during the third 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. Institutional investors own 58.56% of the company’s stock.

Dolby Laboratories Stock Down 3.8%

DLB stock opened at $60.54 on Friday. The business’s fifty day simple moving average is $64.10 and its two-hundred day simple moving average is $66.89. Dolby Laboratories has a twelve month low of $60.14 and a twelve month high of $83.25. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 24.41 and a beta of 0.84.

Dolby Laboratories (NYSE:DLB) last issued its earnings results on Thursday, January 29th. The electronics maker reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.07. The firm had revenue of $346.71 million during the quarter, compared to analyst estimates of $341.26 million. Dolby Laboratories had a net margin of 17.97% and a return on equity of 11.50%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.14 earnings per share. Research analysts expect that Dolby Laboratories will post 2.94 EPS for the current year.

Dolby Laboratories Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Activity at Dolby Laboratories

In other Dolby Laboratories news, EVP Mark Andrew Sherman sold 2,491 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $67.26, for a total value of $167,544.66. Following the transaction, the executive vice president directly owned 70,563 shares in the company, valued at $4,746,067.38. This represents a 3.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Ryan Nicholson sold 2,667 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $66.38, for a total transaction of $177,035.46. Following the transaction, the chief accounting officer directly owned 36,956 shares in the company, valued at approximately $2,453,139.28. This trade represents a 6.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 50,784 shares of company stock valued at $3,391,144 in the last quarter. Corporate insiders own 37.93% of the company’s stock.

Dolby Laboratories Profile

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.