ALPHA & OMEGA SEMICONDUCTOR Ltd — Director's Dealing 2011

Sep 16, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ALPHA & OMEGA SEMICONDUCTOR Ltd (AOSL)
CIK: 0001387467
Period of Report: 2011-09-13

Reporting Person: STEVENS MARK A (Director, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-09-13	Common Shares	P	5000	$7.8762	Acquired	5000	Indirect
2011-09-14	Common Shares	P	7600	$8.0372	Acquired	12600	Indirect
2011-09-14	Common Shares	P	2200	$7.9968	Disposed	14800	Indirect
2011-09-15	Common Shares	P	7400	$8.3622	Disposed	22200	Indirect
2011-09-15	Common Shares	P	17800	$8.3484	Disposed	40000	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	2823300	Indirect
Common Shares	145800	Indirect
Common Shares	30900	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $7.77 to $7.90, inclusive. The reporting person undertakes to provide to Alpha and Omega Semiconductor Limited, any security holder of Alpha and Omega Semiconductor Limited, or the staff of the Securities and Exchange Commission, upon requet, full information regarding the number of shares acquired at each separate price within the ranges set forth in footnotes (1), (2), (3), (4) and (5) to this Form 4.

F2: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $7.94 to $8.23, inclusive.

F3: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $7.98 to $8.02, inclusive.

F4: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $8.29 to $8.43, inclusive.

F5: The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $8.24 to $8.44, inclusive.

F6: The reporting person and his wife are co-trustees of Third Millennium Trust.

F7: The reporting person and his wife are co-trustees of Third Millenium Trust, which is a non-managing member of SCGF Management LLC ("SCGF LLC"), which is the general partner of each of Sequoia Capital Growth Fund III AIV L.P. and Sequoia Capital Growth Partners III, L.P., and the managing member of Sequoia Capital Growth III Principals Fund (collectively, the "Sequoia Funds"). The reporting person disclaims beneficial ownership of the securities held by SCGF LLC and the Sequoia Funds except to the extent of his pecuniary interest therein.