AMENDMENT NO. 1 TO SCHEDULE 13D
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
QUALITY SEMICONDUCTOR, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.001 PER SHARE
(Title of Class of Securities)
74758B104
(CUSIP Number)
RAJ RAJARATNAM
GALLEON ADVISORS, L.L.C.
135 EAST 57TH STREET
NEW YORK, NEW YORK 10022
(212) 371-2809
(Name, address and telephone number of person
authorized to receive notices and communications)
August 6, 1997
(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following
box [ ].
Check the following box if a fee is being paid with the statement [ ].
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
* 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 purposes 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).
Page 1 of 8 Pages
<PAGE>
13D
CUSIP No. 74758B104
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon International Fund, Ltd.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) /x/
(b) / /
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
WC
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
324,660
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
324,660
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
324,660
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** / /
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
4.48%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 8 Pages
<PAGE>
13D
CUSIP No. 74758B104
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon Management, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) /x/
(b) / /
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
324,660
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
324,660
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
324,660
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** / /
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
4.48%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 8 Pages
<PAGE>
13D
CUSIP No. 74758B104
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Galleon Management, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) /x/
(b) / /
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / /
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
324,660
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
324,660
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
324,660
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** / /
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
4.48%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
CO
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 8 Pages
<PAGE>
13D
CUSIP No. 74758B104
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Raj Rajaratnam
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) /x/
(b) / /
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF
_____________________________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
- 0 -
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
324,660
OWNED BY ______________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
- 0 -
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
324,660
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
324,660
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** / /
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
4.48%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 8 Pages
<PAGE>
ITEM 1. SECURITY AND ISSUER.
This Amendment No. 1 amends the statement on Schedule 13D (the "Schedule
13D") which was filed on June 24, 1997 by the undersigned with respect to the
common stock, par value $.001 per share ("Common Stock") of Quality
Semiconductor, Inc. (the "Company"). The principal executive offices of the
Company are located at 851 Martin Avenue, Santa Clara, California 95050.
Capitalized terms used herein and not otherwise defined in this Amendment have
the meanings set forth in the Schedule 13D.
Except as specifically provided herein, this Amendment does not modify
any of the information previously reported on of Schedule 13D.
* * *
Item 5 is hereby amended and restated as follows:
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Galleon International Fund, Ltd. (the "Offshore Fund") owns in the
aggregate 324,660 (4.48%) of the outstanding shares of Common Stock of the
Company, including 43,300 shares of Common Stock issuable upon exercise of
certain warrants.
The approximate aggregate percentage of shares of Common Stock
beneficially owned by the Offshore Fund, Galleon Management, L.P. ("Management
LP"), Galleon Management, L.L.C. ("Management LLC") and Raj Rajaratnam
("Rajaratnam," together with the Offshore Fund, Management LP and Management
LLC, the "Reporting Persons," and individually, each a "Reporting Person") is
based on 7,202,394 shares outstanding, which is the total number of shares of
Common Stock outstanding as of June 30, 1997, as reflected in the Company's
quarterly report on Form 10-Q filed with the Securities and Exchange
Commission for the fiscal quarter ended June 30, 1997 (which is the most
recent Form 10-Q on file), plus 43,300 warrants held by the Offshore Fund.
(b) The power to vote the Common Stock is set forth on the cover sheet
of this Schedule 13D for each Reporting Person.
Management LP does not directly own any of the Common Stock or Warrants.
Management LP may be deemed to indirectly beneficially own 324,660 shares of
Common Stock by virtue of its investment advisory relationship with the
Offshore Fund, pursuant to which Management LP provides discretionary
investment advisory services.
Management LLC does not directly own any of the Common Stock or
Warrants. Management LLC may be deemed to indirectly beneficially own 324,660
shares of Common Stock by virtue of its position as general partner of
Management LP.
Rajaratnam does not directly own any of the Common Stock or Warrants.
Rajaratnam may be deemed to indirectly beneficially own 324,660 shares of
Common Stock as the managing member of Management LLC.
Page 6 of 8 Pages
<PAGE>
(c) The following is a list of all sales and purchases involving the
Common Stock 60 days prior to August 7 by the Offshore Fund.
# of shares
Date (sold) purchased Price/Share
____ _______________ ___________
7/25/97 (8,600) $15
7/26/97 8,600 $14
7/30/97 (24,500) $14
8/04/97 (75,000) $14
8/05/97 860 $13
8/05/97 (15,000) $13
8/06/97 (23,000) $14
8/07/97 (15,000) $14
(d) Except as set forth above, no other Reporting Person is known to
have the right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of the Common Stock.
(e) As of August 6, 1997, the Reporting Persons ceased to be the
beneficial owners of more than five percent of the Company's Common Stock.
* * *
Page 7 of 8 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
DATED: August 14, 1997 GALLEON INTERNATIONAL FUND, LTD.
By: Galleon Management, L.P.
Management Company
By: Galleon Management, L.L.C.
General Partner
By: /s/ Raj Rajaratnam
Raj Rajaratnam
Managing Member
GALLEON MANAGEMENT, L.P.
By: Galleon Management, L.L.C.
General Partner
By: /s/ Raj Rajaratnam
Raj Rajaratnam
Managing Member
GALLEON MANAGEMENT, L.L.C.
By: /s/ Raj Rajaratnam
Raj Rajaratnam
Managing Member
RAJ RAJARATNAM
By: /s/ Raj Rajaratnam
Page 8 of 8 Pages
