Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Jeff Smith, Starboard Trim Stake in Emulex

Jeffrey Smith‘s hedge fund, Starboard Value, reduced its stake in Emulex Corporation (NYSE:ELX) to around 5.34 million shares, from 7.25 million held earlier. The stake represents 5.8% of the company’s common stock. The move comes over a month after Starboard increased its position in the company, and sent a letter to the company’s board, in which it expressed its concern regarding the fact that the company is undervalued.

Jeff Smith

Disclosure: none

Recommended Reading:

Pentwater Capital Management Adds Stewart Enterprises to Equity Portfolio

Tiger Global is Backing Media Giants &

James Dinan is Betting on Broadcast TV, Obamacare & JPMorgan

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.