Conestoga Capital Advisors LLC Maintains Position in Dolby Laboratories (DLB)

Conestoga Capital Advisors LLC maintained its position in Dolby Laboratories (NYSE:DLB) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 6,363 shares of the electronics maker’s stock at the end of the second quarter. Conestoga Capital Advisors LLC’s holdings in Dolby Laboratories were worth $312,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DLB. Watermark Asset Management Inc. bought a new position in Dolby Laboratories during the first quarter valued at approximately $114,000. US Bancorp DE raised its position in Dolby Laboratories by 2.6% in the second quarter. US Bancorp DE now owns 3,029 shares of the electronics maker’s stock valued at $149,000 after buying an additional 78 shares during the last quarter. James Investment Research Inc. bought a new position in Dolby Laboratories during the first quarter valued at approximately $155,000. Northeast Financial Consultants Inc bought a new position in Dolby Laboratories during the first quarter valued at approximately $229,000. Finally, CrestPoint Capital Management LLC bought a new position in Dolby Laboratories during the second quarter valued at approximately $240,000. 50.38% of the stock is owned by hedge funds and other institutional investors.

Dolby Laboratories (DLB) traded down 0.53% during mid-day trading on Friday, reaching $48.42. The company’s stock had a trading volume of 393,480 shares. The firm has a market cap of $4.97 billion, a PE ratio of 24.77 and a beta of 0.79. Dolby Laboratories has a one year low of $44.99 and a one year high of $55.02. The stock’s 50 day moving average is $51.21 and its 200 day moving average is $50.76.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Monday, August 7th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.16%. The ex-dividend date was Thursday, August 3rd. Dolby Laboratories’s dividend payout ratio (DPR) is presently 28.57%.

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Several research analysts have recently commented on the company. BidaskClub lowered Dolby Laboratories from a “hold” rating to a “sell” rating in a research report on Saturday, June 10th. Zacks Investment Research lowered Dolby Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Finally, B. Riley reaffirmed a “dlb (” rating and set a $61.50 target price on shares of Dolby Laboratories in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Dolby Laboratories has a consensus rating of “Hold” and a consensus target price of $54.38.

In other Dolby Laboratories news, insider Kevin J. Yeaman sold 10,000 shares of Dolby Laboratories stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $51.79, for a total value of $517,900.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Dagmar Dolby sold 100,000 shares of Dolby Laboratories stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $52.22, for a total value of $5,222,000.00. The disclosure for this sale can be found here. Insiders sold a total of 810,000 shares of company stock worth $41,365,900 in the last 90 days. 43.80% of the stock is currently owned by insiders.

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.

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

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