The Two Sigma Advisers LP Has $21,979,000 Stake in Dolby Laboratories Inc. (DLB)

The Two Sigma Advisers LP Has $21,979,000 Stake in Dolby Laboratories Inc. (DLB)

Two Sigma Advisers LP boosted its stake in Dolby Laboratories Inc. (NYSE:DLB) by 12.2% during the third quarter, Holdings Channel reports. The firm owned 404,844 shares of the company’s stock after buying an additional 43,899 shares during the period. Two Sigma Advisers LP owned about 0.39% of Dolby Laboratories worth $21,979,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DLB. BNP Paribas Arbitrage SA increased its stake in Dolby Laboratories by 13.9% in the second quarter. BNP Paribas Arbitrage SA now owns 2,901 shares of the company’s stock valued at $139,000 after buying an additional 353 shares during the period. IBM Retirement Fund increased its stake in Dolby Laboratories by 1.5% in the second quarter. IBM Retirement Fund now owns 5,122 shares of the company’s stock valued at $245,000 after buying an additional 76 shares during the period. Bank of Montreal Can purchased a new stake in Dolby Laboratories during the second quarter valued at about $2,100,000. K.J. Harrison & Partners Inc purchased a new stake in Dolby Laboratories during the second quarter valued at about $479,000. Finally, American Century Companies Inc. increased its stake in Dolby Laboratories by 2.9% in the second quarter. American Century Companies Inc. now owns 100,132 shares of the company’s stock valued at $4,791,000 after buying an additional 2,807 shares during the period. 51.41% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Dolby Laboratories Inc. (NYSE:DLB) opened at 48.60 on Thursday. The company has a market cap of $4.99 billion, a P/E ratio of 26.85 and a beta of 0.64. Dolby Laboratories Inc. has a 12 month low of $30.38 and a 12 month high of $55.02. The company’s 50 day moving average is $46.73 and its 200-day moving average is $49.06.

Dolby Laboratories (NYSE:DLB) last posted its earnings results on Wednesday, October 26th. The company reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.17. The company earned $233 million during the quarter, compared to the consensus estimate of $226.45 million. Dolby Laboratories had a net margin of 18.12% and a return on equity of 9.87%. The company’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.43 earnings per share. Analysts expect that Dolby Laboratories Inc. will post $1.99 EPS for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Dolby Laboratories in a research report on Tuesday, October 4th. They issued a “neutral” rating and a $51.00 target price for the company. B. Riley assumed coverage on shares of Dolby Laboratories in a research report on Friday, October 21st. They issued a “neutral” rating and a $50.00 target price for the company. Barrington Research raised shares of Dolby Laboratories from a “market perform” rating to an “outperform” rating in a research report on Thursday, October 27th. Finally, Zacks Investment Research downgraded shares of Dolby Laboratories from a “hold” rating to a “strong sell” rating in a research report on Friday, October 28th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $50.60.

In related news, EVP Mark Andrew Sherman sold 3,353 shares of the company’s stock in a transaction on Monday, December 19th. The shares were sold at an average price of $45.79, for a total transaction of $153,533.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin J. Yeaman sold 2,943 shares of the company’s stock in a transaction on Thursday, December 22nd. The stock was sold at an average price of $46.10, for a total transaction of $135,672.30. The disclosure for this sale can be found here. 43.80% of the stock is currently owned by company insiders.

Dolby Laboratories Company Profile

Dolby Laboratories, Inc creates audio, imaging and communication technologies that transform entertainment and communications at the cinema, home, work and on mobile devices. The Company offers digital signal processing and compression technologies. Its technologies enable the development of the audio technologies for the cinema, home entertainment, mobile and gaming experiences.

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