Eagle Ridge Investment Management buys $4,224,551 stake in Dolby Laboratories (DLB)

Dolby Laboratories (DLB) : Eagle Ridge Investment Management scooped up 1,315 additional shares in Dolby Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 99,448 shares of Dolby Laboratories which is valued at $4,224,551.Dolby Laboratories makes up approximately 0.97% of Eagle Ridge Investment Management’s portfolio.

Dolby Laboratories closed down -0.18 points or -0.42% at $42.48 with 2,06,521 shares getting traded on Wednesday. Post opening the session at $42.56, the shares hit an intraday low of $42.168 and an intraday high of $42.64 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Cardinal Capital Management boosted its stake in DLB in the latest quarter, The investment management firm added 1,635 additional shares and now holds a total of 15,647 shares of Dolby Laboratories which is valued at $664,685. Dolby Laboratories makes up approx 0.27% of Cardinal Capital Management’s portfolio.Next Financial Group Inc boosted its stake in DLB in the latest quarter, The investment management firm added 53 additional shares and now holds a total of 159 shares of Dolby Laboratories which is valued at $6,754.Centurylink Investment Management Co boosted its stake in DLB in the latest quarter, The investment management firm added 9,365 additional shares and now holds a total of 41,563 shares of Dolby Laboratories which is valued at $1,765,596. Dolby Laboratories makes up approx 0.63% of Centurylink Investment Management Co’s portfolio. Crestpoint Capital Management sold out all of its stake in DLB during the most recent quarter. The investment firm sold 26,300 shares of DLB which is valued $1,129,585. Proficio Capital Partners added DLB to its portfolio by purchasing 12 company shares during the most recent quarter which is valued at $514.

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 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. Company shares were Reiterated by Dougherty & Company on Mar 28, 2016 to “Buy”, Firm has raised the Price Target to $ 46 from a previous price target of $38 .

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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