<SEC-DOCUMENT>0001209191-12-026303.txt : 20120507
<SEC-HEADER>0001209191-12-026303.hdr.sgml : 20120507
<ACCEPTANCE-DATETIME>20120507163615
ACCESSION NUMBER:		0001209191-12-026303
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20120507
FILED AS OF DATE:		20120507
DATE AS OF CHANGE:		20120507

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LASRY MARC
		CENTRAL INDEX KEY:			0001259927

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		12818298

	MAIL ADDRESS:	
		STREET 1:		C/O AVENUE CAPITAL
		STREET 2:		399 PARK AVENUE, 6TH FL.
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MAGNACHIP SEMICONDUCTOR Corp
		CENTRAL INDEX KEY:			0001325702
		STANDARD INDUSTRIAL CLASSIFICATION:	SEMICONDUCTORS & RELATED DEVICES [3674]
		IRS NUMBER:				830406195
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		C/O MAGNACHIP SEMICONDUCTOR S.A.
		STREET 2:		74, RUE DE MERL
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2146
		BUSINESS PHONE:		(352) 45-62-62

	MAIL ADDRESS:	
		STREET 1:		C/O MAGNACHIP SEMICONDUCTOR S.A.
		STREET 2:		74, RUE DE MERL
		CITY:			LUXEMBOURG
		STATE:			N4
		ZIP:			L-2146

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAGNACHIP SEMICONDUCTOR LLC
		DATE OF NAME CHANGE:	20110304

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAGNACHIP SEMICONDUCTOR Corp
		DATE OF NAME CHANGE:	20110303

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAGNACHIP SEMICONDUCTOR LLC
		DATE OF NAME CHANGE:	20100701

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Avenue Investments, L.P.
		CENTRAL INDEX KEY:			0001003215
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		12818301

	BUSINESS ADDRESS:	
		STREET 1:		399 PARK AVENUE
		STREET 2:		6TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-878-3520

	MAIL ADDRESS:	
		STREET 1:		399 PARK AVENUE
		STREET 2:		6TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022

	FORMER NAME:	
		FORMER CONFORMED NAME:	AVENUE INVESTMENTS LP
		DATE OF NAME CHANGE:	19951108

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Avenue CDP Global Opportunities Fund LP
		CENTRAL INDEX KEY:			0001382345

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		12818300

	BUSINESS ADDRESS:	
		STREET 1:		399 PARK AVENUE
		STREET 2:		16TH FLOOR
		CITY:			New York
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212.878.3520

	MAIL ADDRESS:	
		STREET 1:		399 PARK AVENUE
		STREET 2:		16TH FLOOR
		CITY:			New York
		STATE:			NY
		ZIP:			10022

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Avenue International Master, L.P.
		CENTRAL INDEX KEY:			0001450166
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34791
		FILM NUMBER:		12818299

	BUSINESS ADDRESS:	
		STREET 1:		535 MADISON AVENUE, 15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		(212) 878-3520

	MAIL ADDRESS:	
		STREET 1:		535 MADISON AVENUE, 15TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
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<TYPE>4
<SEQUENCE>1
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<DESCRIPTION>MAIN DOCUMENT DESCRIPTION
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    <schemaVersion>X0305</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2012-05-07</periodOfReport>

    <issuer>
        <issuerCik>0001325702</issuerCik>
        <issuerName>MAGNACHIP SEMICONDUCTOR Corp</issuerName>
        <issuerTradingSymbol>MX</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001003215</rptOwnerCik>
            <rptOwnerName>Avenue Investments, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O AVENUE CAPITAL MANAGEMENT II, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>399 PARK AVENUE, 6TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001382345</rptOwnerCik>
            <rptOwnerName>Avenue CDP Global Opportunities Fund LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O AVENUE CAPITAL MANAGEMENT II, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>399 PARK AVENUE, 6TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
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            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001450166</rptOwnerCik>
            <rptOwnerName>Avenue International Master, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O AVENUE CAPITAL MANAGEMENT II, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>399 PARK AVENUE, 6TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001259927</rptOwnerCik>
            <rptOwnerName>LASRY MARC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O AVENUE CAPITAL MANAGEMENT II, L.P.</rptOwnerStreet1>
            <rptOwnerStreet2>399 PARK AVENUE, 6TH FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.01 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2012-05-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>378610</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.8585</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>722264</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F2"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.01 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2012-05-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>387001</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.8585</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>732051</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.01 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2012-05-07</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1135621</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>10.8585</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2166652</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F4"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">The filing of this Form 4 shall not be construed as an admission that Avenue Global Opportunities GenPar, LLC (&quot;Global GenPar&quot;), Avenue International, Ltd. (&quot;International&quot;), Avenue International Master GenPar, Ltd. (&quot;International GenPar&quot;), Avenue Partners, LLC (&quot;Avenue Partners&quot;), Avenue Capital Management II, L.P. (&quot;Avenue Capital Management&quot;), Avenue Capital Management II GenPar, LLC (&quot;Capital Management GenPar&quot;) or Marc Lasry (the &quot;Controlling Persons&quot;) is or was for the purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or otherwise the beneficial owner of any of the Common Stock, $0.01 par value, of MagnaChip Semiconductor Corporation directly held by Avenue Investments, L.P. (&quot;Avenue Investments&quot;), Avenue-CDP Global Opportunities Fund, L.P. (&quot;Avenue-CDP&quot;) and Avenue International Master, L.P. (&quot;International Master&quot;). Pursuant to Rule 16a-1, the Controlling Persons disclaim beneficial ownership except to the extent of their pecuniary interest therein.</footnote>
        <footnote id="F2">After giving effect to the transactions reported herein, Avenue Investments holds directly 722,264 shares of Common Stock of the Issuer.  Avenue Partners serves as the general partner of Avenue Investments. Avenue Partners holds indirectly the 722,264 shares of Common Stock of the Issuer held directly by Avenue Investments. Avenue Partners is entitled to receive a performance-based allocation from Avenue Investments.  Mr. Lasry owns an interest in Avenue Partners and receives a portion of the profits allocation related to Avenue Investments.</footnote>
        <footnote id="F3">After giving effect to the transactions reported herein, Avenue-CDP holds directly 732,051 shares of Common Stock of the Issuer.  Global GenPar serves as the general partner of Avenue-CDP. Global GenPar holds indirectly the 732,051 shares of Common Stock of the Issuer held directly by Avenue-CDP. Global GenPar is entitled to receive a performance-based allocation from Avenue-CDP.  Mr. Lasry owns an interest in Global GenPar and receives a portion of the profits allocation related to Avenue-CDP.</footnote>
        <footnote id="F4">After giving effect to the transactions reported herein, International Master holds directly 2,166,652 shares of Common Stock of the Issuer.  International is the sole limited partner of International Master, International GenPar serves as the general partner of International Master and Avenue Partners is the sole shareholder of International GenPar.  Each of International, International GenPar and Avenue Partners holds indirectly the 2,166,652 shares of Common Stock of the Issuer held directly by International Master. International GenPar is entitled to receive a performance-based allocation from International Master, and Avenue Partners, as the sole shareholder of International GenPar, has an indirect interest in such allocation.  Mr. Lasry owns an interest in International GenPar and Avenue Partners and receives a portion of the profits allocation related to International Master.</footnote>
    </footnotes>

    <remarks>This Form 4 is being filed by the Reporting Persons jointly with an additional Form 4 dated as of the same date with respect to the
Common Stock of the Issuer filed by Avenue Special Situations Fund IV, L.P., Avenue Capital Partners IV, LLC, GL Partners IV, LLC, Avenue
Special Situations Fund V, L.P., Avenue Capital Partners V, LLC, GL Partners V, LLC, Avenue Capital Manangement II, L.P., Avenue
Capital Management II GenPar, LLC and Marc Lasry due to the limitations on the number of Reporting Persons able to file a single
Form 4.</remarks>

    <ownerSignature>
        <signatureName>Avenue Investments, L.P. By: Avenue Partners, LLC, its General Partner, By: /s/ Eric Ross, attorney-in-fact for Marc Lasry, Managing Member</signatureName>
        <signatureDate>2012-05-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Avenue-CDP Global Opportunities Fund, L.P. By: Avenue Global Opportunities Fund GenPar, LLC, its General Partner, By: /s/ Eric Ross, attorney-in-fact for Marc Lasry, Managing Member</signatureName>
        <signatureDate>2012-05-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Avenue International Master, L.P. By: Avenue International Master GenPar, Ltd., its General Partner, By: /s/ Eric Ross, attorney-in-fact for Marc Lasry, Director</signatureName>
        <signatureDate>2012-05-07</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Eric Ross, attorney-in-fact for Marc Lasry</signatureName>
        <signatureDate>2012-05-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
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