ARP Americas LP Sells 2,829 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

ARP Americas LP reduced its holdings in Dolby Laboratories, Inc. (NYSE:DLB) by 40.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,171 shares of the electronics maker’s stock after selling 2,829 shares during the quarter. ARP Americas LP’s holdings in Dolby Laboratories were worth $275,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Fieldpoint Private Securities LLC raised its stake in shares of Dolby Laboratories by 3.1% in the first quarter. Fieldpoint Private Securities LLC now owns 6,108 shares of the electronics maker’s stock worth $331,000 after purchasing an additional 183 shares during the last quarter. MML Investors Services LLC raised its stake in shares of Dolby Laboratories by 4.1% in the first quarter. MML Investors Services LLC now owns 5,572 shares of the electronics maker’s stock worth $302,000 after purchasing an additional 218 shares during the last quarter. M&T Bank Corp raised its stake in shares of Dolby Laboratories by 7.9% in the first quarter. M&T Bank Corp now owns 6,670 shares of the electronics maker’s stock worth $361,000 after purchasing an additional 486 shares during the last quarter. OLD National Bancorp IN raised its stake in shares of Dolby Laboratories by 12.0% in the first quarter. OLD National Bancorp IN now owns 4,567 shares of the electronics maker’s stock worth $248,000 after purchasing an additional 490 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake in shares of Dolby Laboratories by 53.8% in the second quarter. Parallel Advisors LLC now owns 1,487 shares of the electronics maker’s stock worth $97,000 after purchasing an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 58.75% of the company’s stock.

NYSE:DLB traded up $0.59 during mid-day trading on Friday, hitting $69.60. 323,188 shares of the company traded hands, compared to its average volume of 277,664. The stock’s fifty day moving average price is $66.18 and its 200-day moving average price is $63.11. Dolby Laboratories, Inc. has a one year low of $44.68 and a one year high of $73.20. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of 32.52, a price-to-earnings-growth ratio of 3.22 and a beta of 0.88.

Dolby Laboratories (NYSE:DLB) last released its quarterly earnings results on Monday, May 4th. The electronics maker reported $1.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.05). The company had revenue of $351.82 million for the quarter, compared to the consensus estimate of $361.35 million. Dolby Laboratories had a net margin of 17.74% and a return on equity of 9.45%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.04 EPS. As a group, equities research analysts expect that Dolby Laboratories, Inc. will post 1.66 EPS for the current fiscal year.

Several analysts recently commented on DLB shares. JPMorgan Chase & Co. cut their price objective on Dolby Laboratories from $66.00 to $65.00 and set an “overweight” rating for the company in a report on Tuesday, May 5th. TheStreet raised Dolby Laboratories from a “c+” rating to a “b-” rating in a report on Monday, June 15th. B. Riley lowered Dolby Laboratories from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $68.00 to $72.00 in a report on Wednesday, June 24th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered Dolby Laboratories from a “hold” rating to a “sell” rating and set a $61.00 price objective for the company. in a report on Monday, May 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $67.00.

In related news, CEO Kevin J. Yeaman sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $60.00, for a total value of $3,000,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Steven E. Forshay sold 4,167 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $69.50, for a total value of $289,606.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,167 shares of company stock valued at $3,837,507. Corporate insiders own 38.17% of the company’s stock.

Dolby Laboratories Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for TVs, set-top boxes (STBs), personal computers (PCs), gaming consoles, mobile devices, and digital radio; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for home theaters, cinemas, device speakers, mobile devices, and headphones.

Featured Article: Gap Down Stocks

Want to see what other hedge funds are holding DLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dolby Laboratories, Inc. (NYSE:DLB).

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

Receive News & Ratings for Dolby Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dolby Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.