Norwich and Southampton have both completed back-to-back promotions to the Premier League in the last two seasons and after edging out Sheffield United to automatic promotion, the Owls are hoping to follow in their footsteps.
"What we have achieved since the beginning of this season has given us a very good platform," Semedo told the club's official website.
"New players will come to the club to strengthen what we have here and we'll do the best we can in the Championship.
"We might get to the Premier League. Who knows? I hope so. Anything is possible."