Third Point sells shares of Atmel; reduces ownership to less than 5%

By Lisa Kerner

Charlotte, N.C., Nov. 30 - Atmel Corp. investors led by Third Point LLC and Daniel S. Loeb reduced their stake in the company to 4.99% from 7.2% with the sale of 12.6 million shares of Atmel stock.

The shares were sold between Oct. 11 and Nov. 30 and priced from $4.39 to $5.80 each, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons beneficially own 22.4 million shares of Atmel's outstanding stock.

Atmel, based in San Jose, Calif., designs and manufactures microcontrollers, advanced logic, mixed-signal, nonvolatile memory and radio frequency components.

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