Dolby Laboratories (DLB) : Price Michael F reduced its stake in Dolby Laboratories by 1.71% during the most recent quarter end. The investment management company now holds a total of 1,014,975 shares of Dolby Laboratories which is valued at $50,444,258 after selling 17,700 shares in Dolby Laboratories , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Dolby Laboratories makes up approximately 6.42% of Price Michael F’s portfolio.
Other Hedge Funds, Including , Shapiro Capital Management reduced its stake in DLB by selling 554,596 shares or 22.48% in the most recent quarter. The Hedge Fund company now holds 1,911,965 shares of DLB which is valued at $95,024,661. Dolby Laboratories makes up approx 2.49% of Shapiro Capital Management’s portfolio.Bessemer Group Inc boosted its stake in DLB in the latest quarter, The investment management firm added 1,085 additional shares and now holds a total of 1,259 shares of Dolby Laboratories which is valued at $62,572.Plante Moran Financial Advisors boosted its stake in DLB in the latest quarter, The investment management firm added 68 additional shares and now holds a total of 113 shares of Dolby Laboratories which is valued at $5,509.
Dolby Laboratories opened for trading at $49.86 and hit $50.04 on the upside on Monday, eventually ending the session at $49.92, with a gain of 0.10% or 0.05 points. The heightened volatility saw the trading volume jump to 3,46,157 shares. Company has a market cap of $5,040 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.