Harbor Capital Advisors Inc. Buys 390 Shares of Dolby Laboratories, Inc. (NYSE:DLB)

Harbor Capital Advisors Inc. raised its stake in shares of Dolby Laboratories, Inc. (NYSE:DLB) by 19.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,435 shares of the electronics maker’s stock after acquiring an additional 390 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Dolby Laboratories were worth $186,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Dolby Laboratories by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 6,502,463 shares of the electronics maker’s stock valued at $544,711,000 after purchasing an additional 107,713 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Dolby Laboratories by 2.6% during the second quarter. Ninety One UK Ltd now owns 2,344,963 shares of the electronics maker’s stock worth $185,791,000 after buying an additional 60,114 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Dolby Laboratories by 0.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 1,402,623 shares of the electronics maker’s stock valued at $111,130,000 after acquiring an additional 10,852 shares during the last quarter. Boston Trust Walden Corp boosted its holdings in shares of Dolby Laboratories by 185.3% in the 3rd quarter. Boston Trust Walden Corp now owns 1,075,076 shares of the electronics maker’s stock worth $82,276,000 after acquiring an additional 698,283 shares in the last quarter. Finally, Mackenzie Financial Corp grew its position in Dolby Laboratories by 3.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,010,230 shares of the electronics maker’s stock worth $80,041,000 after acquiring an additional 33,848 shares during the last quarter. Institutional investors and hedge funds own 58.56% of the company’s stock.

Insider Activity

In related news, CEO Kevin J. Yeaman sold 28,512 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $74.12, for a total value of $2,113,309.44. Following the transaction, the chief executive officer now owns 83,721 shares in the company, valued at $6,205,400.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 39.54% of the company’s stock.

Dolby Laboratories Trading Up 0.5 %

Shares of NYSE DLB opened at $75.86 on Friday. Dolby Laboratories, Inc. has a 1-year low of $66.35 and a 1-year high of $90.06. The company has a 50-day moving average of $73.19 and a two-hundred day moving average of $76.40. The company has a market cap of $7.23 billion, a PE ratio of 34.64 and a beta of 0.98.

Dolby Laboratories (NYSE:DLB) last posted its quarterly earnings data on Wednesday, August 7th. The electronics maker reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.14. The firm had revenue of $288.82 million during the quarter, compared to analysts’ expectations of $286.26 million. Dolby Laboratories had a net margin of 16.87% and a return on equity of 10.66%. As a group, equities research analysts forecast that Dolby Laboratories, Inc. will post 2.71 earnings per share for the current year.

Dolby Laboratories declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 7th that allows the company to repurchase $350.00 million in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and issued a $100.00 price objective on shares of Dolby Laboratories in a research report on Friday, September 20th.

Dolby Laboratories Profile

Dolby Laboratories, Inc creates audio and imaging technologies that transform entertainment at the cinema, DTV transmissions and devices, mobile devices, OTT video and music services, home entertainment devices, and automobiles. The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications; AVC, a digital video codec with high bandwidth efficiency used in various media devices; Dolby AC-4, a digital audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and various media devices.