Loeb's Third Point LLC Lowers Stake in Atmel (ATML) Below 5%
Loeb's firm held 35 million shares of Atmel at the quarter ended September 30, 2007.
Loeb's firm sold large blocks of Atmel stock from 10/11 thru 11/30 at prices from $5.80-$4.39.
Because Loeb's firm is below the 5% threshold, he will not be required to file updated 13Ds on the position.
Atmel has not been a winning trade for Loeb. The original 13D, filed in July, showed Loeb paid an average of about $5.45 per share for the stock. It is currently at $4.42.