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Raging Capital Dumped Alpha & Omega Semiconductor Ltd (AOSL)

Published on April 18, 2016 at 8:22 am by Insider Monkey Staff in Hedge Funds, News

According to a newly-amended 13G filing with the US SEC, William C. Martin‘s Raging Capital Management dropped the largest position, among the hedge funds tracked by Insider Monkey, in Alpha and Omega Semiconductor Ltd (NASDAQ:AOSL) worth close to $23.8 million, or 2.59 million shares, accounting for 11% of the company’s outstanding stock. Raging Capital Management no longer beneficially owns any shares of Alpha and Omega Semiconductor Ltd (NASDAQ:AOSL).

Alpha and Omega Semiconductor Ltd (NASDAQ:AOSL) is a designer, developer and global supplier of power semiconductors offering two main types of products: power discretes and power integrated circuits (ICs). Over the last 12 months, the company’s shares have increased by 58.87%.  Recently, Alpha and Omega Semiconductor Ltd reported that it has accomplished a final agreement with Chongqing funds “to form the previously announced joint venture for a new state-of-the-art power semiconductor packaging/testing and wafer fabrication facility in the Liangjiang New Area of Chongqing.”

At the end of the fourth quarter of 2015, aside from Raging Capital Management, 9 investors reported long positions in Alpha and Omega Semiconductor Ltd (NASDAQ:AOSL), including Chuck Royce’s Royce & Associates, Jim Simons’s Renaissance Technologies, Ernest Chow and Jonathan Howe’s Sensato Capital Management and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

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The details of the filing can be seen below:

Page 1 of 4 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 2)1
Alpha and Omega Semiconductor Limited
 (Name of Issuer)
Common Shares, $0.002 par value
 (Title of Class of Securities)
G6331P 10 4
 (CUSIP Number)
March 31, 2016
 (Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
   x  Rule 13d-1(b)
   o  Rule 13d-1(c)
   o  Rule 13d-1(d)

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Page 2 of 4 – SEC Filing

Item 1(a).
Name of Issuer:
Alpha and Omega Semiconductor Limited
Item 1(b).
Address of Issuer’s Principal Executive Offices:
Clarendon House, 2 Church Street
Hamilton HM 11, Bermuda
Item 2(a).
Name of Person Filing:
This statement is filed by Raging Capital Management, LLC, a Delaware limited liability company (“Raging Capital”), and William C. Martin.  Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.”
Raging Capital is the Investment Manager of Raging Capital Master Fund, Ltd., a Cayman Islands exempted company (“Raging Master”), in whose name the Issuer’s Common Shares, $0.002 par value per share (the “Shares”), were held.  William C. Martin is the Chairman, Chief Investment Officer and Managing Member of Raging Capital.  Raging Master has delegated to Raging Capital the sole authority to vote and dispose of the securities held by Raging Master pursuant to an Investment Management Agreement, dated November 9, 2012 (the “IMA”).  The IMA may be terminated by any party thereto effective at the close of business on the last day of any fiscal quarter by giving the other party not less than sixty-one days’ written notice.  As a result, each of Raging Capital and William C. Martin may have been deemed to beneficially own the Shares previously held by Raging Master.
Item 2(b).
Address of Principal Business Office or, if none, Residence:
The principal business address of each of Raging Capital and William C. Martin is Ten Princeton Avenue, P.O. Box 228, Rocky Hill, New Jersey 08553.
Item 2(c).
Citizenship:
Raging Capital is organized under the laws of the State of Delaware.  William C. Martin is a citizen of the United States of America.
Item 2(d).
Title of Class of Securities:
Common Shares, $0.002 par value per share.
Item 2(e).
CUSIP Number:
G6331P 10 4
Item 3.
If this statement is filed pursuant to Section 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
 
/  /
Not Applicable
 
(a)
/  /
Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).

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Page 3 of 4 – SEC Filing

SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated:  April 11, 2016
  
 
Raging Capital Management, LLC
   
 
By:
/s/ William C. Martin
   
Name:
William C. Martin
   
Title:
Chairman, Chief Investment Officer and Managing Member
 
/s/ William C. Martin
 
William C. Martin

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Page 4 of 4 – SEC Filing

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