DTS Inc. (DTSI) Rating Lowered to Hold at Zacks Investment Research
DTS Inc. (NASDAQ:DTSI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “DTS, Inc. is a digital technology company dedicated to delivering the ultimate entertainment experience. DTS decoders are in virtually every major brand of 5.1-channel surround processors, and there are more than 300 million DTS-licensed consumer electronics products available worldwide. A pioneer in multi-channel audio, DTS technology is in home theatre, car audio, PC and game console products, as well as DVD-Video, Surround Music and DVD-ROM software. “
DTSI has been the topic of a number of other research reports. B. Riley reaffirmed a “buy” rating and issued a $37.00 target price 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 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 report on Tuesday, August 9th. Barrington Research downgraded DTS from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 20th. Finally, William Blair cut DTS from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 20th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. DTS presently has a consensus rating of “Hold” and an average price target of $38.25.
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Shares of DTS (NASDAQ:DTSI) traded down 0.09% during mid-day trading on Tuesday, hitting $42.32. The stock had a trading volume of 90,611 shares. The company has a 50-day moving average of $37.42 and a 200 day moving average of $28.50. DTS has a one year low of $19.62 and a one year high of $42.80. The firm’s market cap is $743.48 million.
DTS (NASDAQ:DTSI) last issued its earnings results on Monday, August 8th. The company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.18. The firm had revenue of $48.70 million for the quarter, compared to the consensus estimate of $44.61 million. DTS had a positive return on equity of 8.90% and a negative net margin of 6.37%. The company’s revenue was up 41.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.34 EPS. On average, equities research analysts forecast that DTS will post $2.23 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. raised its position in shares of DTS by 14.3% in the first quarter. Prudential Financial Inc. now owns 45,515 shares of the company’s stock valued at $991,000 after buying an additional 5,700 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of DTS by 91.7% in the second quarter. Mutual of America Capital Management LLC now owns 156,880 shares of the company’s stock valued at $4,149,000 after buying an additional 75,037 shares in the last quarter. Swiss National Bank raised its position in shares of DTS by 4.2% in the second quarter. Swiss National Bank now owns 29,700 shares of the company’s stock valued at $786,000 after buying an additional 1,200 shares in the last quarter. Virginia Retirement System bought a new position in shares of DTS during the first quarter valued at about $891,000. Finally, B. Riley Financial Inc. bought a new position in shares of DTS during the second quarter valued at about $212,000. 99.40% of the stock is owned by institutional investors and hedge funds.
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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