Msf Capital Lowers stake in Dolby Laboratories (DLB)

Dolby Laboratories (DLB) : Msf Capital reduced its stake in Dolby Laboratories by 83.0% during the most recent quarter end. The investment management company now holds a total of 46,292 shares of Dolby Laboratories which is valued at $2.1 Million after selling 226,018 shares in Dolby Laboratories , the firm said in a disclosure report filed with the SEC on May 13, 2016.Dolby Laboratories makes up approximately 7.20% of Msf Capital’s portfolio.

Other Hedge Funds, Including , Hsbc Holdings Plc added DLB to its portfolio by purchasing 5,018 company shares during the most recent quarter which is valued at $228,570.Menta Capital reduced its stake in DLB by selling 39,450 shares or 81.32% in the most recent quarter. The Hedge Fund company now holds 9,060 shares of DLB which is valued at $412,683. Dolby Laboratories makes up approx 0.06% of Menta Capital’s portfolio. Cornerstone Capital Management Holdings. added DLB to its portfolio by purchasing 32,797 company shares during the most recent quarter which is valued at $1.5 Million. Dolby Laboratories makes up approx 0.01% of Cornerstone Capital Management Holdings.’s portfolio.Schwab Charles Investment Management Inc reduced its stake in DLB by selling 6,227 shares or 2.98% in the most recent quarter. The Hedge Fund company now holds 202,832 shares of DLB which is valued at $9.2 Million. Dolby Laboratories makes up approx 0.01% of Schwab Charles Investment Management Inc’s portfolio.Baillie Gifford Co boosted its stake in DLB in the latest quarter, The investment management firm added 66,369 additional shares and now holds a total of 5,634,878 shares of Dolby Laboratories which is valued at $255.7 Million. Dolby Laboratories makes up approx 0.46% of Baillie Gifford Co’s portfolio.

Dolby Laboratories opened for trading at $46.12 and hit $46.49 on the upside on Wednesday, eventually ending the session at $46.25, with a gain of 0.39% or 0.18 points. The heightened volatility saw the trading volume jump to 3,63,186 shares. Company has a market cap of $4,637 M.

On the company’s financial health, Dolby Laboratories reported $0.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.61. The company had revenue of $274.30 million for the quarter, compared to analysts expectations of $263.96 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Many Wall Street Analysts have commented on Dolby Laboratories. Company shares were Reiterated by Dougherty & Company on Apr 28, 2016 to “Buy”, Firm has raised the Price Target to $ 54 from a previous price target of $46 .Company shares were Reiterated by Dougherty & Company on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $38 .Dolby Laboratories was Downgraded by JP Morgan to ” Neutral” on Apr 8, 2016.

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.

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