TimesSquare Capital Management LLC Has $82.18 Million Stake in Dolby Laboratories (NYSE:DLB)

TimesSquare Capital Management LLC lowered its stake in Dolby Laboratories (NYSE:DLB) by 0.0% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,678,500 shares of the electronics maker’s stock after selling 200 shares during the period. TimesSquare Capital Management LLC owned 1.64% of Dolby Laboratories worth $82,179,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Dolby Laboratories by 13,583.7% during the 1st quarter. BlackRock Inc. now owns 2,431,722 shares of the electronics maker’s stock valued at $127,449,000 after purchasing an additional 2,413,951 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Dolby Laboratories by 8.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,181,361 shares of the electronics maker’s stock valued at $323,965,000 after buying an additional 497,767 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Dolby Laboratories by 8.4% during the 1st quarter. Vanguard Group Inc. now owns 4,621,794 shares of the electronics maker’s stock valued at $242,228,000 after buying an additional 359,509 shares during the period. Marathon Asset Management LLP lifted its holdings in shares of Dolby Laboratories by 137.5% during the 2nd quarter. Marathon Asset Management LLP now owns 566,381 shares of the electronics maker’s stock valued at $27,729,000 after buying an additional 327,901 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Dolby Laboratories by 1,045.2% during the 1st quarter. Alliancebernstein L.P. now owns 352,969 shares of the electronics maker’s stock valued at $18,499,000 after buying an additional 322,148 shares during the period. Institutional investors own 51.87% of the company’s stock.

Dolby Laboratories (DLB) opened at 58.18 on Friday. Dolby Laboratories has a 12 month low of $44.99 and a 12 month high of $59.79. The stock’s 50 day moving average price is $51.48 and its 200-day moving average price is $51.27. The stock has a market cap of $5.97 billion, a price-to-earnings ratio of 29.76 and a beta of 0.81.

Dolby Laboratories (NYSE:DLB) last announced its quarterly earnings data on Tuesday, July 25th. The electronics maker reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.10. Dolby Laboratories had a net margin of 19.02% and a return on equity of 10.25%. The firm had revenue of $305.67 million during the quarter, compared to analysts’ expectations of $296.88 million. During the same quarter last year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts expect that Dolby Laboratories will post $1.99 EPS for the current year.

In other Dolby Laboratories news, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $52.22, for a total transaction of $5,222,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin J. Yeaman sold 10,000 shares of Dolby Laboratories stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total transaction of $517,900.00. The disclosure for this sale can be found here. Insiders sold 1,419,000 shares of company stock valued at $71,701,100 in the last quarter. Company insiders own 43.80% of the company’s stock.

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A number of equities analysts recently commented on DLB shares. B. Riley reaffirmed a “dlb (” rating and issued a $61.50 target price on shares of Dolby Laboratories in a report on Wednesday, August 23rd. BidaskClub cut Dolby Laboratories from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Dougherty & Co reaffirmed a “buy” rating and issued a $63.00 target price on shares of Dolby Laboratories in a report on Wednesday, September 13th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $52.00 target price (up from $49.00) on shares of Dolby Laboratories in a report on Wednesday, September 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $57.30.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc designs and manufactures audio and imaging products for the cinema, television, broadcast and entertainment industries. Its products for cinema include Digital Cinema Servers and Cinema Audio Products, and broadcast and other include Dolby Conference Phone and Other Products. It offers services to support theatrical and television production for cinema exhibition, broadcast and home entertainment, including equipment training and maintenance, mixing room alignment and equalization, as well as audio, color and light image calibration.

Institutional Ownership by Quarter for Dolby Laboratories (NYSE:DLB)

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