Dolby Laboratories (DLB) Shares Bought by Timucuan Asset Management Inc. FL

Timucuan Asset Management Inc. FL lifted its stake in Dolby Laboratories (NYSE:DLB) by 61.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,172,271 shares of the electronics maker’s stock after purchasing an additional 445,411 shares during the period. Dolby Laboratories accounts for approximately 5.4% of Timucuan Asset Management Inc. FL’s holdings, making the stock its 9th largest holding. Timucuan Asset Management Inc. FL owned about 1.14% of Dolby Laboratories worth $57,394,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Watermark Asset Management Inc. bought a new position in shares of Dolby Laboratories in the 1st quarter worth $114,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Dolby Laboratories by 9.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,331 shares of the electronics maker’s stock worth $114,000 after purchasing an additional 209 shares during the last quarter. US Bancorp DE boosted its position in shares of Dolby Laboratories by 4.8% in the 1st quarter. US Bancorp DE now owns 2,951 shares of the electronics maker’s stock worth $155,000 after purchasing an additional 135 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Dolby Laboratories by 25.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,564 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 725 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its position in shares of Dolby Laboratories by 4.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,637 shares of the electronics maker’s stock worth $227,000 after purchasing an additional 205 shares during the last quarter. Institutional investors and hedge funds own 51.87% of the company’s stock.

In other Dolby Laboratories news, insider Kevin J. Yeaman sold 45,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.46, for a total transaction of $2,540,700.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, major shareholder Dagmar Dolby sold 100,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $52.22, for a total transaction of $5,222,000.00. The disclosure for this sale can be found here. Insiders have sold 1,419,000 shares of company stock worth $71,701,100 in the last ninety days. Insiders own 43.80% of the company’s stock.

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Shares of Dolby Laboratories (DLB) traded down 0.36% during mid-day trading on Tuesday, reaching $57.72. The company had a trading volume of 74,950 shares. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 29.52 and a beta of 0.84. Dolby Laboratories has a one year low of $44.99 and a one year high of $59.79. The stock has a 50 day moving average of $54.43 and a 200-day moving average of $51.96.

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

DLB has been the topic of several recent research reports. Zacks Investment Research upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. BidaskClub upgraded Dolby Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, July 8th. B. Riley upgraded Dolby Laboratories from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $61.50 in a research report on Monday, July 17th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $52.00 price objective (up previously from $49.00) on shares of Dolby Laboratories in a research note on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $58.83.

About Dolby Laboratories

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.

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

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