Electrical properties of the laminated SMD-type PTC thermistor for microcircuit protection were investigated as a function of calcination and sintering temperature. $BaTiO_3$ with $Y_2O_3$ and $MnO_2$ were calcined at 1000 to $1150^{circ}C$ for 2h and the laminated SMD-type PTC thermistor was sintered at 1350 to $1400^{circ}C$ for 2h in a reduced atmosphere (1% $H_2/N_2$). Sintered density of the sample was dependent on the calcination and sintering temperature. Electrical properties of the sintered samples were strongly dependent on the densities of samples. For the samples with density below 4.6 g/$cm^3$, the insulator characteristics were observed, while PTC jump characteristics (R150/R30) were disappeared for the sample with density above 5.05 g/$m^3$. Optimal PTC characteristics were obtained for the sintered samples with density of 5.05 g/$m^3$. The laminated SMD-type PTC thermistor prepared by calcination at $1100^{circ}C$ for 2h and sintering at $1270^{circ}C$ for 2h showed the room temperature resistivity of $11{Omega}{cdot}cm$ and PTC jump characteristics of $10^2$ order.