Meridian Funds Comments on Ubiquiti Networks

Author's Avatar
Sep 08, 2014

Ubiquiti Networks (UBNT) designs and manufactures wireless broadband infrastructure equipment and other communications. Ubiquiti initially came to our attention in early 2013 after suffering declines in earnings. While being optimistic about overall market demand, our research led us to conclude that the problems facing the company were temporary and we invested in the stock. Management executed on the turnaround, which drove both revenue and earnings growth. As a result the stock has more than doubled from our initial purchase price.

From Meridian Funds (Trades, Portfolio)’ Meridian Contrarian Fund Second Quarter Commentary.