UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 
SCHEDULE 13G/A
 
Under the Securities Exchange Act of 1934
(Amendment No. 1)*

MagnaChip Semiconductor Corporation
 	
(Name of Issuer)	
 
Common Stock, par value $0.01 per share	
 	
(Title of Class of Securities)	
 
55933J203	
 	
(CUSIP Number)	
 	
December 31, 2013	
(Date of Event Which Requires Filing of this Statement)	
 
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
 
o	Rule 13d-1(b)
x	Rule 13d-1(c)
o	Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
 
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
CUSIP No.  55933J203	 SCHEDULE 13G/A	Page 2 of 10 Pages	

1	NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 
 Lakewood Capital Management, LP	 	
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x	 	 	
3	SEC USE ONLY

4	CITIZENSHIP OR PLACE OF ORGANIZATION
 Delaware Limited Partnership	 	
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH	5	SOLE VOTING POWER
 
0	 	
 	6	SHARED VOTING POWER
 
2,144,857	 	 	 	
 	7	SOLE DISPOSITIVE POWER
 
0	 	 	 	 	 	
 	8	SHARED DISPOSITIVE POWER
 
2,144,857	 	 	 	 	 	 	
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,144,857	 	 	 	 	 	 	
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
 	o	 	 	 	 	 	 	
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.1%	 	 	 	 	 	 	
12	TYPE OF REPORTING PERSON (See Instructions)
 
IA	 	 	 	 	 	 	

 

 
CUSIP No.  55933J203	 SCHEDULE 13G/A	Page 3 of 10 Pages	

1	NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 
 Lakewood Capital Advisors, LLC	 	
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x	 	 	
3	SEC USE ONLY

4	CITIZENSHIP OR PLACE OF ORGANIZATION
 Delaware Limited Liability Company	 	
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH	5	SOLE VOTING POWER
 
0	 	
 	6	SHARED VOTING POWER
 
2,144,857	 	 	 	
 	7	SOLE DISPOSITIVE POWER
 
0	 	 	 	 	 	
 	8	SHARED DISPOSITIVE POWER
 
2,144,857	 	 	 	 	 	 	
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,144,857	 	 	 	 	 	 	
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
 	o	 	 	 	 	 	 	
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.1%	 	 	 	 	 	 	
12	TYPE OF REPORTING PERSON (See Instructions)
 
OO	 	 	 	 	 	 	

 

 
CUSIP No.  55933J203	 SCHEDULE 13G/A	Page 4 of 10 Pages	

1	NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 
 Lakewood Capital Partners, LP	 	
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x	 	 	
3	SEC USE ONLY

4	CITIZENSHIP OR PLACE OF ORGANIZATION
 Delaware Limited Partnership	 	
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH	5	SOLE VOTING POWER
 
0	 	
 	6	SHARED VOTING POWER
 
2,144,857	 	 	 	
 	7	SOLE DISPOSITIVE POWER
 
0	 	 	 	 	 	
 	8	SHARED DISPOSITIVE POWER
 
2,144,857	 	 	 	 	 	 	
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,144,857	 	 	 	 	 	 	
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
 	o	 	 	 	 	 	 	
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.1%	 	 	 	 	 	 	
12	TYPE OF REPORTING PERSON (See Instructions)
 
PN	 	 	 	 	 	 	

 

 
CUSIP No.  55933J203	 SCHEDULE 13G/A	Page 5 of 10 Pages	

1	NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) 
Anthony T. Bozza	 	
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) o
(b) x	 	 	
3	SEC USE ONLY

4	CITIZENSHIP OR PLACE OF ORGANIZATION
 United States of America	 	
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH	5	SOLE VOTING POWER
 
0	 	
 	6	SHARED VOTING POWER
 
2,144,857	 	 	 	
 	7	SOLE DISPOSITIVE POWER
 
0	 	 	 	 	 	
 	8	SHARED DISPOSITIVE POWER
 
2,144,857	 	 	 	 	 	 	
9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
2,144,857	 	 	 	 	 	 	
10	CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions)
 
 	o	 	 	 	 	 	 	
11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
6.1%	 	 	 	 	 	 	
12	TYPE OF REPORTING PERSON (See Instructions)
 
IN	 	 	 	 	 	 	

 

 
 
CUSIP No.  55933J203	 SCHEDULE 13G/A	Page 6 of  10 Pages	
 
Item 1.	 	(a)	Name of Issuer	
MagnaChip Semiconductor Corporation
 	 	(b)	Address of Issuer’s Principal Executive Offices	
c/o MagnaChip Semiconductor S.A.
74, rue de Merl, L-2146
Luxembourg, Grand Duchy of Luxembourg
Item 2.	 	(a)	Name of Person Filing	

 	 	(b)	Address of Principal Business Office, or, if none, Residence	

 	 	(c)	Citizenship	
Lakewood Capital Management, LP
650 Madison Ave, 25th Floor
New York, New York 10022
Delaware Limited Partnership
 
Lakewood Capital Advisors, LLC
650 Madison Ave, 25th Floor
New York, New York 10022
Delaware Limited Liability Company
Lakewood Capital Partners, LP
650 Madison Ave, 25th Floor
New York, New York 10022
Delaware Limited Partnership
 
Anthony T. Bozza
650 Madison Ave, 25th Floor
New York, New York 10022
United States of America
 	 	(d)	Title of Class of Securities	
Common Stock, par value $0.01 per share
 	 	(e) CUSIP No.:	
55933J203

 
CUSIP No. 55933J203	 SCHEDULE 13G/A	Page 7 of 10 Pages	

Item 3.	If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:	

 	(a)	¨	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);	
 	 	 	 	
 	(b)	¨	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);	
 	 	 	 	
 	(c)	¨	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);	
 	 	 	 	
 	(d)	¨	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);	
 	 	 	 	
 	(e)	o	An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);	
 	 	 	 	
 	(f)	¨	An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);	
 	 	 	 	
 	(g)	¨	A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);	
 	 	 	 	
 	(h)	¨	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);	
 	 	 	 	
 	(i)	¨	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);	
 	 	 	 	
 	(j)	¨	A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J);	
 	 	 	 	
 	(k)	¨	A group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution:                             	

 
 
CUSIP No. 55933J203	 SCHEDULE 13G/A	Page 8 of 10 Pages	

Item 4.	Ownership
Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
Lakewood Capital Management, LP
Lakewood Capital Advisors, LLC
Lakewood Capital Partners, LP
Anthony T. Bozza
 
(a) Amount beneficially owned: 2,144,857
(b) Percent of class: 6.1%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 2,144,857
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 2,144,857
Item 5.	Ownership of Five Percent or Less of a Class
 
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following |_|
 
Item 6.	Ownership of More Than Five Percent on Behalf of Another Person
 
Not Applicable
 
Item 7. Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company or Control Person
 
Not Applicable
 
Item 8. Identification and Classification of Members of the Group
 
Not Applicable
 
Item 9. Notice of Dissolution of Group 
 
Not Applicable
 
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 
CUSIP No. 55933J203	 SCHEDULE 13G/A	Page 9 of 10 Pages	

SIGNATURE
 
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
 
Dated: February 14, 2014
 	Lakewood Capital Management, LP	
 	By: Lakewood Capital Advisors, LLC	
 	 	 	 	
 	By:	 /s/ Anthony T. Bozza	
 	 	Name:	 Anthony T. Bozza	
 
 	Lakewood Capital Advisors, LLC	
 	 	 	 	
 	By:	 /s/ Anthony T. Bozza	
 	 	Name:	 Anthony T. Bozza	
 
 	Lakewood Capital Partners, LP	
 	 	 	 	
 	By:	 /s/ Anthony T. Bozza	
 	 	Name:	 Anthony T. Bozza	
 
 	Anthony T. Bozza	
 	 	 	 	
 	By:	 /s/ Anthony T. Bozza	
 	 	Name:	 Anthony T. Bozza	

CUSIP No. 55933J203	 SCHEDULE 13G/A	Page 10 of 10 Pages	

AGREEMENT
 
The undersigned agree that this Schedule 13G/A dated February 14, 2014, relating to the Common Stock of MagnaChip Semiconductor Corporation shall be filed on behalf of the undersigned.
 
Dated: February 14, 2014
 	Lakewood Capital Management, LP	
 	By: Lakewood Capital Advisors, LLC	
 	 	 	 	
 	By:	 /s/ Anthony T. Bozza	
 	 	Name:	 Anthony T. Bozza	
 
 	Lakewood Capital Advisors, LLC	
 	 	 	 	
 	By:	 /s/ Anthony T. Bozza	
 	 	Name:	 Anthony T. Bozza	
 
 	Lakewood Capital Partners, LP	
 	 	 	 	
 	By:	 /s/ Anthony T. Bozza	
 	 	Name:	 Anthony T. Bozza	
 
 	Anthony T. Bozza	
 	 	 	 	
 	By:	 /s/ Anthony T. Bozza	
 	 	Name:	 Anthony T. Bozza