SEMTECH CORP — Major Shareholding Notification 2008

Sep 15, 2008

SC 13G 1 form13g.htm SCHEDULE 13G FILED BY GLENHILL ADVISORS, LLC, ISSUER SEMTECH CORPORATION 09-15-2008 form13g.htm Licensed to: cahillwink Document Created using EDGARizer 4.0.6.1 Copyright 1995 - 2008 EDGARfilings, Ltd., an IEC company. All rights reserved

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

Semtech Corporation

---

(Name of Issuer)

Common Stock

---

(Title of Class of Securities)

816850101

---

(CUSIP Number)

September 3, 2008

---

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[ ] Rule 13d-1(b)

[X] Rule 13d-1(c)

[ ] 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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMD control number.

SEC 1745 (3-06)

PAGE 1 OF 7

--------------------------------------------------------
	CUSIP
No. 816850101
--------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
1	Names
of Reporting Persons
	I.R.S.
Identification Nos. of above persons (entities only)
	Glenhill
Advisors, LLC
	13-4153005
---------------------------------------------------------------------------------------------------------------------------------
2	Check
the Appropriate Box if a Member of a Group (See
Instructions)
	(a) [ ]
	(b) [
X ]
---------------------------------------------------------------------------------------------------------------------------------
3	SEC
Use Only
---------------------------------------------------------------------------------------------------------------------------------
4	Citizenship
or Place of Organization
	Delaware
---------------------------------------------------------------------------------------------------------------------------------
Number
of	5	Sole Voting
Power 3,270,300
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Shares
Beneficially	6	Shared Voting
Power 0
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Owned
by
Each	7	Sole Dispositive
Power 3,270,300
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Reporting
Person
With:	8	Shared Dispositive
Power 0
-----------------------------------------------------------------------------------------------------------------------------------------------------------
9	Aggregate
Amount Beneficially Owned by Each Reporting Person
	3,270,300
-----------------------------------------------------------------------------------------------------------------------------------------------------------
10	Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
-----------------------------------------------------------------------------------------------------------------------------------------------------------
11	Percent
of Class Represented by Amount in Row (9)
	5.3%
------------------------------------------------------------------------------------------------------------------------------------------------------------------
12	Type
of Reporting Person (See Instructions)
	IA,
HC
----------------------------------------------------------------------------------------------------------------------------------------------------------------------

PAGE 2 OF 7

------------------------------------------------------
	CUSIP
No. 816850101
------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
1	Names
of Reporting Persons
	I.R.S.
Identification Nos. of above persons (entities only)
	Glenn
J. Krevlin
---------------------------------------------------------------------------------------------------------------------------------
2	Check
the Appropriate Box if a Member of a Group(See
Instructions)
	(a) [ ]
	(b) [
X ]
---------------------------------------------------------------------------------------------------------------------------------
3	SEC
Use Only
---------------------------------------------------------------------------------------------------------------------------------
4	Citizenship
or Place of Organization
	United
States
---------------------------------------------------------------------------------------------------------------------------------
Number
of	5	Sole Voting
Power 3,270,300
----------------------------------------------------------------------------------------------------------------------------------------------------
Shares
Beneficially	6	Shared Voting
Power 0
----------------------------------------------------------------------------------------------------------------------------------------------------
Owned
by
Each	7	Sole Dispositive
Power 3,270,300
----------------------------------------------------------------------------------------------------------------------------------------------------
Reporting
Person
With:	8	Shared Dispositive
Power 0
-----------------------------------------------------------------------------------------------------------------------------------------------------
9	Aggregate
Amount Beneficially Owned by Each Reporting Person
	3,270,300
-----------------------------------------------------------------------------------------------------------------------------------------------------
10	Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
-----------------------------------------------------------------------------------------------------------------------------------------------------
11	Percent
of Class Represented by Amount in Row (9)
	5.3%
------------------------------------------------------------------------------------------------------------------------------------------------------
12	Type
of Reporting Person (See Instructions)
	IN,
HC
------------------------------------------------------------------------------------------------------------------------------------------------------

PAGE 3 OF 7

------------------------------------------------------
	CUSIP
No. 816850101
------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------------------
1	Names
of Reporting Persons
	I.R.S.
Identification Nos. of above persons (entities only)
	Glenhill
Capital Management, LLC
	13-4146739
---------------------------------------------------------------------------------------------------------------------------------
2	Check
the Appropriate Box if a Member of a Group(See
Instructions)
	(a) [ ]
	(b) [
X ]
---------------------------------------------------------------------------------------------------------------------------------
3	SEC
Use Only
---------------------------------------------------------------------------------------------------------------------------------
4	Citizenship
or Place of Organization
	Delaware
---------------------------------------------------------------------------------------------------------------------------------
Number
of	5	Sole Voting
Power 0
-----------------------------------------------------------------------------------------------------------------------------------------------------
Shares
Beneficially	6	Shared Voting
Power 3,270,300
-----------------------------------------------------------------------------------------------------------------------------------------------------
Owned
by
Each	7	Sole Dispositive
Power 0
-----------------------------------------------------------------------------------------------------------------------------------------------------
Reporting
Person
With:	8	Shared Dispositive
Power 3,270,300
------------------------------------------------------------------------------------------------------------------------------------------------------
9	Aggregate
Amount Beneficially Owned by Each Reporting Person
	3,270,300
------------------------------------------------------------------------------------------------------------------------------------------------------
10	Check
if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions) [ ]
------------------------------------------------------------------------------------------------------------------------------------------------------
11	Percent
of Class Represented by Amount in Row (9)
	5.3%
------------------------------------------------------------------------------------------------------------------------------------------------------
12	Type
of Reporting Person (See Instructions)
	IA,
HC
------------------------------------------------------------------------------------------------------------------------------------------------------

PAGE 4 OF 7

| Item
1(a) | Name
of Issuer |
| --- | --- |
| | Semtech
Corporation |
| Item
1(b) | Address
of Issuer's Principal Executive Offices |
| | 200
Flynn Road |
| | Camarillo,
California 93012-8790 |
| Item
2(a) | Name
of Person Filing |
| | Glenhill
Advisors, LLC, Glenn J. Krevlin and Glenhill Capital Management,
LLC. |
| | Glenn
J. Krevlin is the managing member and control person of Glenhill Advisors,
LLC. Glenhill Advisors, LLC is the managing member of Glenhill Capital
Management, LLC. Glenhill Capital Management, LLC is the
general partner and investment advisor of Glenhill Capital LP, a security
holder of the issuer, and sole shareholder of Glenhill Capital Overseas
GP, Ltd. Glenhill Capital Overseas GP, Ltd. is general partner
of Glenhill Capital Overseas Master Fund, LP, a security holder of the
issuer. |
| Item
2(b) | Address
of Principal Business Office or, if none, Residence |
| | 598
Madison Avenue, 12 th Floor |
| | New
York, NY 10022 |
| Item
2(c) | Citizenship |
| | See
the response(s) to Item 4 on the attached cover
page(s). |
| Item
2(d) | Title
of Class of Securities |
| | Common
Stock |
| Item
2(e) | CUSIP
Number |
| | 816850101 |
| 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: |
| | Not
Applicable |

PAGE 5 OF 7

| Item
4 | Ownership — (a) | Amount
Beneficially owned: | |
| --- | --- | --- | --- |
| | | See
the response(s) to Item 9 on the attached cover
page(s). | |
| | (b) | Percent
of Class: | |
| | | See
the response(s) to Item 11 on the attached cover page(s), which was
determined by dividing the number of shares beneficially held by the
Reporting Person by 61,751,080, the number of shares of common stock
issued and outstanding as reported in the Issuer’s Form 10-Q filed with
the Securities and Exchange Commission on September 4, 2008. | |
| | (c) | Number
of shares as to which the person has: | |
| | | (i) | Sole
power to vote or to direct the vote: |
| | | | See
the response(s) to Item 5 on the attached cover
page(s). |
| | | (ii) | Shared
power to vote or to direct the vote: |
| | | | See
the response(s) to Item 6 on the attached cover
page(s). |
| | | (iii) | Sole
power to dispose or to direct the disposition of: |
| | | | See
the response(s) to Item 7 on the attached cover
page(s). |
| | | (iv) | Shared
power to dispose or to direct the disposition of: |
| | | | See
the response(s) to Item 8 on the attached cover
page(s). |
| Item
5 | Ownership
of Five Percent or Less of a Class. | | |
| | Not
Applicable. | | |
| 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. | | |
| | 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. | | |

PAGE 6 OF 7

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.

DATE:
GLENHILL
ADVISORS, LLC
By:
/s/ GLENN J. KREVLIN
Name:
Glenn J. Krevlin
Title: Managing
Member
/s/
GLENN J. KREVLIN
Name:
Glenn J. Krevlin
GLENHILL
CAPITAL MANAGEMENT, LLC
By: GLENHILL
ADVISORS, LLC
Managing
Member
By:
/s/ GLENN J. KREVLIN
Name: Glenn
J. Krevlin
Title: Managing
Member

PAGE 7 OF 7