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)

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!