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   Technology StocksDLB Dolby Laboratories


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From: Cooters2/1/2021 12:56:59 PM
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CFRA MAINTAINS HOLD OPINION ON SHARES OF DOLBY LABORATORIES, INC.

6:06 pm ET January 29, 2021

We keep our 12-month price target of $84, 25x our FY 21 (Sep.) EPS estimate, and squarely in line with the DLB's five-year historical trading band. We keep our FY 21 EPS estimate of $3.36 and lift FY 22's EPS by $0.15 to $3.73. DLB prints Dec-Q adj-EPS of $1.48 vs. $0.64, easily surpassing consensus by $0.44 on upside in sales and cost controls. Quarterly revenues rose 33.6% to $390M, beating consensus by $44.5M. Primary drivers to the top-line beat were a $20M true-up and a $15M-$20M pull-forward in licensing recoveries from mobile customers. DLB also revised its Jan-Q sequential outlook above consensus expectations for revenues ($280M to $310M vs. $290M) and adj-EPS ($0.57 to $0.72 vs. $0.62), aided by higher shipment volumes for select devices (TVs and PCs). For the stock to move materially higher from here, we think an expedited timeline around a recovery in Dolby Cinemas and higher adoption of other technologies (Atmos and Vision) would need to emerge in the second half of FY 2021.

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To: Cooters who wrote (254)2/1/2021 12:59:37 PM
From: Cooters
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For the stock to move materially higher from here, we think an expedited timeline around a recovery in Dolby Cinemas and higher adoption of other technologies (Atmos and Vision) would need to emerge in the second half of FY 2021.

Couldn't agree more, and since I expect those things to happen, I expect it to go materially higher when they do. Coot

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To: Cooters who wrote (255)2/1/2021 2:33:52 PM
From: A.J. Mullen
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Cinemas are mostly closed. A fear is that when they reopen, people's habits will have adjusted, they might feel content to watch at home. A hope is that Cinemas would entice them back with a better experience.

I imagine installation takes a theater out of commission and is time-consuming. Now would be a good time to do it if the money is available, a big if. Was there any mention in the conference call of chains investing at this time?

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To: A.J. Mullen who wrote (256)2/1/2021 2:39:35 PM
From: Cooters
   of 281
 
Yes they provided 2 encouraging items for DC in Asia/China.

12 new DC screens including first 1 in Taiwan. As IMAX also reported, DC is gaining market share in China vs vanilla tickets.

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To: Cooters who wrote (257)2/1/2021 3:47:15 PM
From: A.J. Mullen
   of 281
 
Thanks. I believe theaters in Taiwan and China are open for the most part. It would be good to hear of new installations in Europe and the US. I couldn't find a breakdown of earnings by region.

Ashley

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From: Cooters2/3/2021 9:51:58 AM
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Form SC 13G Dolby Laboratories, Inc. Filed by: BlackRock Inc.

(null) (fast-edgar.com)

They make these so difficult, but it looks like Blackrock increased their stake to 5.7%, adding 200K+ shares

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From: Cooters3/4/2021 5:33:00 PM
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Really good Q&A format presentation at MS this afternoon. Lewis did a great job explaining some of the new products, particularly dolby.io. Only 30 minutes, highly suggest listening. Notes up tomorrow, time for a drink.
Cooters

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To: Cooters who wrote (260)3/10/2021 12:09:30 PM
From: Cooters
   of 281
 
Dolby at MS - 3/4/21

Q&A format with Lewis Chew, CFO

- interesting tidbit, Lewis has not been physically in the office since 3/6/20.

- Data from their recent reporting period in China, which included the Lunar NY(2/12). showed strong cinema activity.

- Dolby believes the premium theater experience will not only survive but thrive. They think the mall cineplex area may not fare so well.

- discussed the adoption of Dolby tech in the content creation market for music, said 3 years ago they had literally zero business in this area.

- Lenovo introduced a PC with Dolby Voice. they think Voice will have a strong, long lived ramp. I've seen many articles highlighting the need for better audio and video on PC's as it relates to remote work and conferencing.

- Nice description of dolby.io developer's platform. After a trial period, customers start paying for using the API's.

- Dolby Cinema was the first time they started receiving a share of each movie ticket.

- At some point they will begin sharing dolby.io metrics like downloads and customers, it will likely be before they start sharing revenue info.

- The analyst community currently forecasts 10-11% revenue growth in 2022, a return to double digits. They asked Lewis if that were to come to fruition, what things would likely drive it. He cited TV's, gaming, some early automotive revenue, and a cinema recovery. Thought dolby.io was a wild card that could really take off. And also mobile.

Cooters

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From: Cooters5/3/2021 2:19:33 PM
   of 281
 
Box and Dolby Transform Media in the Cloud

DLB 104.69 3.22 3.17% : Dolby Laboratories, Inc. - Yahoo Finance

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This is a big deal and hopefully signals the industry will adopt this across the board. Cooters

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To: Cooters who wrote (262)5/3/2021 3:20:59 PM
From: Cooters
   of 281
 
Huge volume in the May 105s ahead of earnings tomorrow

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