Large National Semi investors reallocating holdings

natsemi-logoNational Semiconductor has a new major shareholder in Massachusetts Financial Services, which filed notice with the SEC today that it more than doubled its holdings in the Santa Clara chip maker to 12.7 million shares, up from the 5.6 million shares it reported owning as of Sept. 30, 2008. This raised the funds stake to 5.5 percent, making the fund Nat Semi’s third largest shareholder, according to information from Bloomberg Financial.

The filing was necessitated by the Boston fund family’s holdings in NatSemi rising to the 5 percent threshold that triggers a reporting requirement. The SC 13G form used by the fund indicates that the new acquisition is for investment purposes only and not as part of a plan to influence the direction of the company.

National Semiconductor’s largest shareholder, Relational Investors, has reduced its stake by about a third, according to its most recent SC 13D filing on Jan. 20, to 22.6 million shares, lowering its stake to 9.9 percent.

Relational has sold about 4.7 million shares of NatSemi so far this year, getting on average $10.29 per share. Shareholders over the last 52 weeks  have lost about 45 percent on the stock.


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