Jeffrey Smith, Starboard Value are Bullish on Unwired Planet Inc (UPIP)

Jeff Smith‘s fund Starboard Value has raised its position in Unwired Planet Inc (NASDAQ:UPIPto 10.5 million shares, from 9.15 million shares held previously. The new position amounts to 9.6% of the outstanding stock, up from 8.3% held before the increase. At the current price of Unwired Planet, the value of the position is equal to $22.27 million.

Jeff Smith

Over a week ago, Starboard disclosed that Peter Feld has resigned from the board of directors of Unwired Planet Inc (NASDAQ:UPIP). Mr. Feld holds personally around 212,800 shares of the company.

Unwired Planet Inc (NASDAQ:UPIP) is specialized in intellectual property and technology licensing. Recently the company entered into a deal with Lenovo, which intends to purchase a portfolio of patents from Unwired Planet in a transaction worth around $100 million in cash. The deal involved over 20 patents, including 3G and LTE patents, the company said in a statement.

Moreover, at the beginning of March, the company has filed patent infringement actions through its wholly owned subsidiary, Unwired Planet International Ltd. The patent infringement actions filed in the UK and Germany involves six patents and are asserted against several major players in the telecommunication markets such as Huawei, Google and Samsung, another press release stated.

The stock of Unwired Planet Inc (NASDAQ:UPIP) has been climbing, a significant raise being experienced at the end of March. Since the beginning of the year, the stock is up by over 50% and is currently appreciated by the analysts as ‘Overweight.’ The company has posted EPS of -$0.07 for the second quarter of its fiscal 2014, slightly down from $0.06 reported a year earlier.

So far, Derek C. Schrier‘s Indaba Capital Management is the largest shareholder of Unwired Planet Inc (NASDAQ:UPIP) among hedge funds from our database, holding around 11.82 million shares as at the end of 2013. George Soros‘ Soros Fund Management also held a significant position at the end of last year, its stake containing some 6.45 million shares.

Disclosure: none

Recommended Reading:

Jeffrey Smith, Starboard Value’s Investor Presentation On Darden Restaurants, Inc.(DRI); Argue Against Red Lobster Spin-off

Starboard Value Further Reduces Stake in Integrated Device Technology, Inc (IDTI)

Jeffrey Smith’s Starboard Value Cuts Its Exposure to Integrated Device Technology (IDTI)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!