DTS Inc. (DTSI) Shares Up 23.1%
Shares of DTS Inc. (NASDAQ:DTSI) shot up 23.1% during mid-day trading on Tuesday . The stock traded as high as $42.39 and last traded at $42.27, with a volume of 2,112,174 shares. The stock had previously closed at $34.33.
Several brokerages recently issued reports on DTSI. B. Riley reissued a “buy” rating and issued a $37.00 price target on shares of DTS in a report on Saturday, August 6th. Dougherty & Co raised their target price on DTS from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. JPMorgan Chase & Co. set a $29.00 target price on DTS and gave the company a “hold” rating in a research report on Tuesday, August 9th. Zacks Investment Research upgraded DTS from a “hold” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a research report on Friday, August 12th. Finally, Barrington Research raised their target price on DTS from $29.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, August 11th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.33.
The stock’s market cap is $742.42 million. The stock’s 50-day moving average is $32.54 and its 200 day moving average is $26.30.
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DTS (NASDAQ:DTSI) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.18. DTS had a positive return on equity of 8.90% and a negative net margin of 6.37%. The firm had revenue of $48.70 million for the quarter, compared to analyst estimates of $44.61 million. During the same period in the previous year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 41.6% compared to the same quarter last year. On average, equities analysts predict that DTS Inc. will post $2.23 earnings per share for the current year.
The company also recently declared a special dividend, which was paid on Wednesday, August 31st. Investors of record on Monday, August 22nd were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Thursday, August 18th. DTS’s dividend payout ratio is -13.11%.
A number of institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in shares of DTS by 109.7% in the second quarter. BNP Paribas Arbitrage SA now owns 5,391 shares of the company’s stock valued at $143,000 after buying an additional 2,820 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in DTS during the second quarter worth $204,000. B. Riley Financial Inc. bought a new stake in DTS during the second quarter worth $212,000. Thrivent Financial for Lutherans bought a new stake in DTS during the second quarter worth $225,000. Finally, BlackRock Advisors LLC increased its stake in DTS by 1.5% in the second quarter. BlackRock Advisors LLC now owns 8,567 shares of the company’s stock worth $227,000 after buying an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 99.54% of the company’s stock.
DTS Company Profile
DTS, Inc is an audio technology solutions provider for high-definition entertainment experiences. The Company’s audio solutions are designed to enable recording, delivery and playback of high-definition audio, and are included by licensee customers around the world into a range of consumer electronics devices, including televisions, personal computers (PCs), smartphones, tablets, digital media players (DMPs), set-top-boxes, soundbars, wireless speakers, video game consoles, Blu-ray Disc players, automotive audio systems, audio/video receivers (AVRs), digital versatile disc (DVD)-based products and home theater systems.
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