My understanding of it, and as it appears to say in the manual, is that when it's in Semi-Auto, it will adjust itself as close to your specified level as possible for the ground condidtions. And it will drop it down if needed. So if you have Semi-Auto circling around 28 then it MAY go as high as 28 or to any lower setting. This is what it says in the book. I seldom use it that way. I set it to manual and run it as high as it will go and remain stable. Actually, I probably set it a couple notches light. I usually run like 24 to 28, somewhere in there.
One thing I do a lot is when I find a deep target, lower the sens down repeatedly to see at what point I lose the target and at what point my signal stops improving. You can try that with Semi-Auto too. You'll be surprised how deep it will go at the lower settings.