Dolby Laboratories (DLB) : Lapides Asset Management reduced its stake in Dolby Laboratories by 15.85% during the most recent quarter end. The investment management company now holds a total of 190,100 shares of Dolby Laboratories which is valued at $9,444,168 after selling 35,800 shares in Dolby Laboratories , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Dolby Laboratories makes up approximately 1.55% of Lapides Asset Management’s portfolio.
Other Hedge Funds, Including , Los Angeles Capital Management Equity Research Inc reduced its stake in DLB by selling 300 shares or 2.34% in the most recent quarter. The Hedge Fund company now holds 12,530 shares of DLB which is valued at $622,490. Dolby Laboratories makes up approx 0.01% of Los Angeles Capital Management Equity Research Inc’s portfolio.Gabelli Funds reduced its stake in DLB by selling 28,800 shares or 14.2% in the most recent quarter. The Hedge Fund company now holds 174,000 shares of DLB which is valued at $8,755,680. Dolby Laboratories makes up approx 0.05% of Gabelli Funds’s portfolio.Swiss National Bank boosted its stake in DLB in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 85,500 shares of Dolby Laboratories which is valued at $4,168,125. Dolby Laboratories makes up approx 0.01% of Swiss National Bank’s portfolio. Calamos Advisors added DLB to its portfolio by purchasing 410,400 company shares during the most recent quarter which is valued at $20,503,584. Dolby Laboratories makes up approx 0.19% of Calamos Advisors’s portfolio.
Dolby Laboratories opened for trading at $49.68 and hit $49.9 on the upside on Monday, eventually ending the session at $49.73, with a gain of 0.06% or 0.03 points. The heightened volatility saw the trading volume jump to 2,55,765 shares. Company has a market cap of $5,021 M.
On the company’s financial health, Dolby Laboratories reported $0.76 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.66. The company had revenue of $277.60 million for the quarter, compared to analysts expectations of $268.04 million. The company’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS.
Many Wall Street Analysts have commented on Dolby Laboratories. Company shares were Reiterated by Dougherty & Company on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 57 from a previous price target of $54 .
Dolby Laboratories Inc. (Dolby Laboratories) creates audio imaging and communication technologies that transform entertainment and communications at the cinema at home at work and on mobile devices. The Company licenses its audio technologies and also develops technologies aimed at enhancing voice conferencing communications and imaging. Additionally the Company provides products and services that enable entertainment content creators and distributors to produce encode transmit and playback content for consumer experiences. The Company designs and manufactures audio and imaging products for the film production cinema and television broadcast industries. Distributed in approximately 80 countries these products are used in content creation distribution and playback to enhance image and sound quality and improve transmission and playback.