Chronicle Journal: Finance

Consumer Technology Boom Continues: Audio Stocks (NYSE: DBL) (OTC US: HRAL) (NASDAQ: SONO)

By: OTC

Consumer electronics stocks are on fire as we pass out huge government stimulus checks with a savings rate already at decade-long highs, above 20%.

One of the areas seeing tremendous demand is in the audio technology space.

As such, we look at a few of the more interesting stocks in the audio technology space, including: Dolby Laboratories, Inc. (NYSE: DLB), Hear AtLast Holdings, Inc. (OTCMKTS: HRAL), and Sonos Inc (NASDAQ: SONO).

 

Dolby Laboratories Inc (NYSE: DLB) creates audio and imaging technologies that transform entertainment and communications at the cinema, at home, at work, and on mobile devices.

The company develops and licenses its audio technologies, such as AAC & HE-AAC, a digital audio codec solution used for a range of media applications.; AVC, a digital video codec with high bandwidth efficiency used in media devices; Dolby AC-4, an audio coding technology that delivers new audio experiences to a range of playback devices; and Dolby Atmos technology for cinema and a range of media devices.

Dolby Laboratories Inc (NYSE: DLB) recently announced that it has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2021. For the second year in a row, Dolby has been among the top-ranked companies pushing the music industry forward.

“We are excited to be honored again by Fast Company as one of the world’s most innovative music companies,” said Todd Pendleton, Senior Vice President and Chief Marketing Officer, Dolby Laboratories. “Empowering creativity and self-expression is built into our DNA, and we are grateful to work with artists of all levels to bring their music and stories to life through our breakthrough technology.”

Even in light of this news, DLB hasn’t really done much of anything over the past week, with shares logging no net movement over that period.

Dolby Laboratories Inc (NYSE: DLB) pulled in sales of $389.9M in its last reported quarterly financials, representing top line growth of 33.6%. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($1.2B against $316.4M).

 

Hear AtLast Holdings Inc (OTCMKTS: HRAL) bills itself as a developer of leading edge audio technology for use in listening devices for music and other applications.

HRAL most recently announced its long-anticipated integration of its 2019 acquisition, Crystal Clear Audio, Inc. According to its most recent release, Crystal Clear Audio was acquired in late 2019 by HearAtLast Holdings as a wholly owned subsidiary in an all-stock transaction and the management worked diligently through this difficult year to bring the first products to market.

Hear AtLast Holdings, Inc. (OTCMKTS: HRAL) has also teamed up with some prominent entertainers and sports stars and collaborated on limited-edition releases, including major brand ambassadors now on board such as Dwayne De Rosario, Claudio “THE MATRIX” Marrero, and Platinum Blonde.

The company has also made strong progress during the pandemic by bringing in new manufacturing relationships and developing new features to be monetized as the operational environment normalizes this year.

HRAL shares have been strong, pushing as much as 400% higher off its transaction and integration completion news. Shares have pulled back over recent days to test key support near the stock’s 50-day MA and the penny range support zone.

Hear AtLast Holdings, Inc. (OTCMKTS: HRAL) is looking forward to far more significant operations in 2021 than we have seen from the stock during the recent past because it has now fully on-boarded its primary operational asset acquired in 2019. The company also noted in its release that it is set to launch first new product in sound tech space this month, which could drive further excitement in this more speculative name.

 

Sonos Inc (NASDAQ: SONO) designs, develops, manufactures, and sells multi-room audio products primarily for use in private residences in the United States and internationally. It offers wireless speakers, home theater speakers, and components.

The company offers its products through third-party retail stores and e-commerce retailers, as well as through its sonos.com Website.

Sonos Inc (NASDAQ: SONO) just introduced Sonos Roam™, the ultra-portable smart speaker built to deliver great sound at home and on any adventure. Fully connected to your Sonos system on WiFi at home and automatically switching to Bluetooth when you’re on the go, Roam’s powerful, adaptable sound defies expectations for a speaker of its size. Effortless set-up and control and new smart features make it easier than ever to enjoy music and more from anywhere. Weighing less than a pound, Roam’s elegant yet durable design is perfect for your home, the backyard, and wherever you go. Roam is available starting April 20 for $169. Customers can pre-order today on sonos.com.

“We built Roam to give customers a way to bring the Sonos experience with them wherever they go,” said Patrick Spence, Sonos CEO. “It’s not only our smartest and most versatile speaker, it’s also our most affordable. Roam provides the opportunity for millions of new customers to get started with Sonos, and is the right product at the right time as we begin to gather again with friends and family.”

Even in light of this news, SONO has had a rough past week of trading action, with shares sinking something like -5% in that time. That said, chart support is nearby and we may be in the process of constructing a nice setup for some movement back the other way.

Sonos Inc (NASDAQ: SONO) managed to rope in revenues totaling $645.6M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 14.9%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($678M against $455.8M).

 

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