Relational Investors sells 5.4 million shares of National Semiconductor

By Lisa Kerner

Charlotte, N.C., June 27 - National Semiconductor Corp. investors led by Relational Investors, LLC cut their stake in the company to 13.85%, from 16.10% on April 2, with the sale of 5,466,310 shares.

According to a schedule 13D filed with the Securities and Exchange Commission, the shares were sold between June 23 and June 27 priced from $20.24 to $21.92 each.

Relational Investors sold the shares to satisfy contractual obligations related to client redemptions, the filing stated.

The investors beneficially own 33,587,017 shares of the Santa Clara, Calif., semiconductor products company.

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