Stuart Peterson’s Artis Capital disclosed an 11.3% position in Emulex Corp (ELX). At the end of March Artis had 4.2 Million shares of ELX, vs. 9.9 Million right now. Artis probably paid in the neighborhood of $8.5-$9 for the additional 5.7 Million shares it acquired. Currently ELX is trading at $7.31. Investors can imitate Artis’ bet at a 15%-20% discount right now. Artis Capital is a San Francisco based tech hedge fund that invests in public and private companies. It was one of the investors of Youtube before it was acquired. Peterson bought Andre Agassi’s home for $20 Million in 2006.
According to Yahoo Finance, Emulex Corporation provides network convergence solutions that connect servers, storage, and networks within the data center. The company designs, develops, and supplies host server products, including host bus adapters, universal converged network adapters, and application specific integrated circuits that enable servers to connect to local area networks, storage area networks, and network attached storage; and embedded storage products comprising switch-on-a-chip products, embedded storage switches, bridges, routers, and input/output controllers, as well as provides custom form factor solutions for original equipment manufacturer (OEM) blade servers. In addition, it offers contract engineering services. Emulex Corporation sells its products to OEMs and end users worldwide, as well as through value added resellers, systems integrators, industrial distributors, and resellers. The company was founded in 1979 and is headquartered in Costa Mesa, California.