| x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|---|--------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|------------------------------------------------------------------------------------------|

|   | For the transition period from ________________ to ________________ |
|--------|---------------------------------------------------------------------|

|   | Commission file number 333-100979 |
|--------|-----------------------------------|

| LAPIS TECHNOLOGIES, INC.                                                         |
|----------------------------------------------------------------------------------|
| (Exact name of registrant as specified in its charter)                           |
|                                                                             |   |
| Delaware                                                                         | 27-0016420 |
| (State or other jurisdiction ofincorporation or organization)                    | (I.R.S. Employer Identification No.) |
|                                                                             |   |
| 70 Kinderkamack Road, Emerson, New Jersey  07630                       |
| (Address of principal executive offices)     (Zip Code) |
|                                                                             |   |
| Registrant’s telephone number, including area code: (201) 225-0190         |

| Securities registered under Section 12(b) of the Act: None |
|------------------------------------------------------------|
|                                                       |   |
| Securities registered under Section 12(g) of the Act:None  |
| (Title of class)                                           |

|   | Large accelerated filer  ̈ | Accelerated filer  ̈ |
|--------|--------------------------------|--------------------------|

|   | Non-accelerated filer  ̈ | Smaller reporting company x |
|--------|------------------------------|-----------------------------|

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| Item 10. | Directors, Executive Officers and Corporate Governance. |
|----------|---------------------------------------------------------|

| Name         |   | Age    |   | Position                                        |
|--------------|--------|--------|--------|-------------------------------------------------|
| David Lucatz |   | 54     |   | Chairman of the Board, Chief Executive Officer, |
|         |   |   |   | And President                                   |
| Tali Dinar   |   | 39     |   | CFO and Secretary                          |
|         |   |   |   |                                            |

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| Name and Principal Position                       | Year   | Salary(1) | Bonus   | Stock Awards | Option Awards | Non-Equity Incentive Plan Compensation | Non-qualified Deferred Compensation Earnings | All Other Compensation | Total    |
|---------------------------------------------------|--------|-----------|---------|--------------|---------------|----------------------------------------|----------------------------------------------|------------------------|----------|
| David LucatzChief Executive Officer and President | 2010   | $160,729  | $0      | $0           | $0            | $0                                     | $0                                           | $35,148                | $195,877 |
|                                              |   |      |    |         |          |                                   |                                         |                   |     |
| Harry Mund                                        | 2010   | $100,025  | $0      | $0           | $0            | $0                                     | $0                                           | $23,529                | $123,554 |
| Former Chief Executive Officer and President(2)   | 2009   | $360,885  | $45,778 | $0           | $0            | $0                                     | $0                                           | $25,178                | $431,841 |
|                                              |   |      |    |         |          |                                   |                                         |                   |     |
| Tali DinarCFO and Secretary                       | 2010   | $115,380  | $0      | $0           | $0            | $0                                     | $0                                           | $25,429                | $140,809 |

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| Item 12. | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters. |
|----------|-------------------------------------------------------------------------------------------------|

| Name of Beneficial Owner                 |   | Number of SharesBeneficially Owned |      |   | PercentageOwnership(1) |   |
|---------------------------------------------------------|--------|---------------------------------------------------|-----------|--------|------------------------|--------|
| D.L. Capital Ltd. (“DLC”)(2)                |   |                                              | 5,194,400 |   |                   |   | 80.1 | % |
| Zvi Avni                                                |   |                                              | 1,000,000 |   |                   |   | 15.4 | % |
| David Lucatz(2)                                         |   |                                              | 5,194,400 |   |                   |   | 80.1 | % |
| Tali Dinar                                              |   |                                              | 0         |   |                   |   | 0 | % |
| Directors and Executive Officers as a group (2 persons) |   |                                              | 5,194,400 |   |                   |   | 80.1 | % |

| (1) | Applicable percentage ownership is based on 6,483,000 shares of common stock outstanding as of April 18, 2011 together with securities exercisable or convertible into shares of common stock within 60 days of April 18, 2011 for each stockholder. Beneficial ownership is determined in accordance with the rules of the Securities and Exchange Commission and generally includes voting or investment power with respect to securities. Shares of common stock that are currently exercisable or exercisable within 60 days of April 18, 2011 are deemed to be beneficially owned by the person holding such securities for the purpose of computing the percentage of ownership of such person, but are not treated as outstanding for the purpose of computing the percentage ownership of any other person. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Mr. Lucatz, by virtue of his being the controlling shareholder of DLC as well as the Chief Executive Officer and Chairman of the Board of Directors of DLC, may be deemed to beneficially own the 5,194,400 shares of the Company’s common stock held by DLC. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Plan category                                         |   | Number ofsecurities tobe issuedupon exerciseof outstandingoptions,warrants and rights |   |   | Weighted average exercise price of outstanding options,warrants and rights |   |   | Number ofsecurities remainingavailable for futureissuanceunder equitycompensationplans (excludingsecurities reflectedin column (a) |   |
|------------------------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------|--------|--------|--------------------------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                       |   | (a)                                                                                                                      |   |   | (b)                                                                                                                |   |   | (c)                                                                                                                                                                             |   |
| Equity compensation plans approved by security holders     |   |                                                                                                                     | -0-    |   |                                                                                                               |   | -0-    |                                                                                                                                                                            |   |   | 500,000 |   |
|                                                       |   |                                                                                                                     |   |   |                                                                                                               |   |   |                                                                                                                                                                            |   |   |   |   |
| Equity compensation plans not approved by security holders |   |                                                                                                                     | -0-    |   |                                                                                                               |   | -0-    |                                                                                                                                                                            |   |   | -0- |   |
|                                                       |   |                                                                                                                     |   |   |                                                                                                               |   |   |                                                                                                                                                                            |   |   |   |   |
| Total                                                      |   |                                                                                                                     | -0-    |   |                                                                                                               |   | -0-    |                                                                                                                                                                            |   |   | 500,000 |   |

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| Item 13. | Certain Relationships and Related Transactions, and Director Independence.  |
|----------|----------------------------------------------------------------------------------|

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| Item 14. | Principal Accounting Fees and Services. |
|----------|-----------------------------------------|

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| Item 15. | Exhibits, Financial Statement Schedules. |
|----------|------------------------------------------|

|   | (a) | List of documents filed as part of this Annual Report on Form 10-K/A: |
|--------|-----|-----------------------------------------------------------------------|

|   | 1.  Reference is made to the “Report of Independent Registered Public Accounting Firm”, the “Consolidated Financial Statements” and the “Notes to Consolidated Financial Statements” under Item 8 of Part II appearing on pages F-1 through F-16 to the Annual Report on Form 10-K originally filed on March 31, 2011, which are incorporated herein by reference. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2.  Financial Statement Schedules: |
|--------|----------------------------------------------|

|   | None. |
|--------|-------|

|   | 3.   Exhibit Index. |
|--------|------------------------------------|

|   | The following is a list of exhibits filed as part of this Annual Report on Form 10-K/A: |
|--------|-----------------------------------------------------------------------------------------|

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| ExhibitNumber |   | Description                                                                                                                                                                                                                                                                         |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |   |                                                                                                                                                                                                                                                                                |
| 3.1           |   | Certificate of Incorporation of Enertec Electronics, Inc. filed January 31, 2002 (Incorporated by reference to our registration statement on Form SB-2 (File No. 333-100979), filed with the Securities and Exchange Commission on November 4, 2002)                                |
|          |   |                                                                                                                                                                                                                                                                                |
| 3.2           |   | Certificate of Amendment of Enertec Electronics, Inc. filed April 23, 2002 (Incorporated by reference to our registration statement on Form SB-2 (File No. 333-100979), filed with the Securities and Exchange Commission on November 4, 2002)                                      |
|          |   |                                                                                                                                                                                                                                                                                |
| 3.3           |   | Certificate of Amendment of Opal Technologies, Inc. filed October 17, 2002 (Incorporated by reference to our registration statement on Form SB-2 (File No. 333-100979), filed with the Securities and Exchange Commission on November 4, 2002)                                      |
|          |   |                                                                                                                                                                                                                                                                                |
| 3.4           |   | Amended By-Laws of Lapis Technologies, Inc. (Incorporated by reference to our current report on Form 8-K, filed with the Securities and Exchange Commission on March 5, 2010)                                                                                                       |
|          |   |                                                                                                                                                                                                                                                                                |
| 10.1          |   | Employment Agreement, dated August 12, 2009, between Harry Mund and Enertec Systems 2001 Ltd. (Incorporated by reference to our annual report on Form 10-K for the fiscal year ended December 31, 2009, filed with the Securities and Exchange Commission on March 31, 2010)        |
|          |   |                                                                                                                                                                                                                                                                                |
| 10.2          |   | Consulting Agreement, dated August 12, 2009, between D.L. Capital Ltd. and Enertec Systems 2001 Ltd. (Incorporated by reference to our annual report on Form 10-K for the fiscal year ended December 31, 2009, filed with the Securities and Exchange Commission on March 31, 2010) |
|          |   |                                                                                                                                                                                                                                                                                |
| 14.1          |   | Code of Ethics (Incorporated by reference to our annual report on Form 10-KSB for the fiscal year ended December 31, 2003, filed with the Securities and Exchange Commission on June 28, 2004)                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                |
| 21.1          |   | List of Subsidiaries (Incorporated by reference to our Annual Report on Form 10-K originally filed on March 31, 2011)                                                                                                                                                               |
|          |   |                                                                                                                                                                                                                                                                                |
| 31.1          |   | Certification by Chief Executive Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                |
| 31.2          |   | Certification by Chief Financial Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                |
| 32.1          |   | Certification by Chief Executive Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code (Incorporated by reference to our Annual Report on Form 10-K originally filed on March 31, 2011)    |
|          |   |                                                                                                                                                                                                                                                                                |
| 32.2          |   | Certification by Chief Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code (Incorporated by reference to our Annual Report on Form 10-K originally filed on March 31, 2011)    |

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|                 | LAPIS TECHNOLOGIES, INC. |
|----------------------|--------------------------|
|                 |                     |
| Date: April 20, 2011 | By:                      | /s/ David Lucatz |
|                 |                     | Name:     | David Lucatz |
|                 |                     | Title:       | Chairman, President and ChiefExecutive Officer |

| Signature        |   | Title                                                                                              |   | Date           |
|------------------|--------|----------------------------------------------------------------------------------------------------|--------|----------------|
|             |   |                                                                                               |   |           |
| /s/ David Lucatz |   | Chairman, President and Chief ExecutiveOfficer and sole Director (Principal ExecutiveOfficer)      |   | April 20, 2011 |
| David Lucatz     |   |                                                                                               |   |           |
|             |   |                                                                                               |   |           |
| /s/ Tali Dinar   |   | Secretary and Chief Financial Officer(Principal Financial Officer and PrincipalAccounting Officer) |   | April 20, 2011 |
| Tali Dinar       |   |                                                                                               |   |           |

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| ExhibitNumber |   | Description                                                                                                                                                                                                                                                                         |
|---------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|          |   |                                                                                                                                                                                                                                                                                |
| 3.1           |   | Certificate of Incorporation of Enertec Electronics, Inc. filed January 31, 2002 (Incorporated by reference to our registration statement on Form SB-2 (File No. 333-100979), filed with the Securities and Exchange Commission on November 4, 2002)                                |
|          |   |                                                                                                                                                                                                                                                                                |
| 3.2           |   | Certificate of Amendment of Enertec Electronics, Inc. filed April 23, 2002 (Incorporated by reference to our registration statement on Form SB-2 (File No. 333-100979), filed with the Securities and Exchange Commission on November 4, 2002)                                      |
|          |   |                                                                                                                                                                                                                                                                                |
| 3.3           |   | Certificate of Amendment of Opal Technologies, Inc. filed October 17, 2002 (Incorporated by reference to our registration statement on Form SB-2 (File No. 333-100979), filed with the Securities and Exchange Commission on November 4, 2002)                                      |
|          |   |                                                                                                                                                                                                                                                                                |
| 3.4           |   | Amended By-Laws of Lapis Technologies, Inc. (Incorporated by reference to our current report on Form 8-K, filed with the Securities and Exchange Commission on March 5, 2010)                                                                                                       |
|          |   |                                                                                                                                                                                                                                                                                |
| 10.1          |   | Employment Agreement, dated August 12, 2009, between Harry Mund and Enertec Systems 2001 Ltd. (Incorporated by reference to our annual report on Form 10-K for the fiscal year ended December 31, 2009, filed with the Securities and Exchange Commission on March 31, 2010)        |
|          |   |                                                                                                                                                                                                                                                                                |
| 10.2          |   | Consulting Agreement, dated August 12, 2009, between D.L. Capital Ltd. and Enertec Systems 2001 Ltd. (Incorporated by reference to our annual report on Form 10-K for the fiscal year ended December 31, 2009, filed with the Securities and Exchange Commission on March 31, 2010) |
|          |   |                                                                                                                                                                                                                                                                                |
| 14.1          |   | Code of Ethics (Incorporated by reference to our annual report on Form 10-KSB for the fiscal year ended December 31, 2003, filed with the Securities and Exchange Commission on June 28, 2004)                                                                                      |
|          |   |                                                                                                                                                                                                                                                                                |
| 21.1          |   | List of Subsidiaries (Incorporated by reference to our Annual Report on Form 10-K originally filed on March 31, 2011)                                                                                                                                                               |
|          |   |                                                                                                                                                                                                                                                                                |
| 31.1          |   | Certification by Chief Executive Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                |
| 31.2          |   | Certification by Chief Financial Officer, required by Rule 13a-14(a) or Rule 15d-14(a) of the Exchange Act                                                                                                                                                                          |
|          |   |                                                                                                                                                                                                                                                                                |
| 32.1          |   | Certification by Chief Executive Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code (Incorporated by reference to our Annual Report on Form 10-K originally filed on March 31, 2011)    |
|          |   |                                                                                                                                                                                                                                                                                |
| 32.2          |   | Certification by Chief Financial Officer, required by Rule 13a-14(b) or Rule 15d-14(b) of the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code (Incorporated by reference to our Annual Report on Form 10-K originally filed on March 31, 2011)    |

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