UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

(Name of issuer)

(Title of class of securities)

(CUSIP number)

(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 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).

SCHEDULE 13G

SCHEDULE 13G

SCHEDULE 13G

This Amendment No. 3 (“Amendment No. 3”) is filed pursuant to Rule 13d-2(b) promulgated under the Securities Exchange Act of 1934, as amended, with respect to the shares of Common Stock, $.01 par value per share (the “Common Stock”), of Vitesse Semiconductor Corporation (the “Issuer”) beneficially owned by the Reporting Persons specified herein as of December 31, 2011, and amends and supplements the Schedule 13G filed November 12, 2009, Amendment No. 1 thereto filed Janunary 15, 2010, and Amendment No. 2 thereto filed January 26, 2011(collectively, the “Schedule 13G”). Except as set forth herein, the Schedule 13G is unmodified.

The names of the persons filing this statement on Amendment No. 3 are: Linden Capital LP, a Bermuda limited partnership (“Linden Capital”), Linden GP LLC, a Delaware limited liability company (“Linden GP”), and Siu Min Wong (“Mr. Wong,” and collectively, the “Reporting Persons”).

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

As of December 31, 2011, the Reporting Persons collectively owned $2,650,000 principal amount of the Company’s 8.00% Convertible Second Lien Debentures due 2014 which are convertible into 588,888 shares of Common Stock.

As of December 31, 2011, the Reporting Persons had beneficial ownership of shares constituting 2.35% of all of the outstanding shares of Common Stock.

(i) Sole power to vote or to direct the vote

Not applicable.

(ii) Shared power to vote or to direct the vote

As of December 31, 2011, Linden Capital, Linden GP and Mr. Wong had shared power to vote or direct the vote of the 588,888 shares of Common Stock beneficially owned by Linden Capital.

(iii) Sole power to dispose or to direct the disposition of

Not applicable.

(iv) Shared power to dispose or to direct the disposition of

As of December 31, 2011, Linden Capital, Linden GP and Mr. Wong had shared power to dispose or direct the disposition of the 588,888 shares of Common Stock beneficially owned by Linden Capital.

If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following x.

By signing below the undersigned certifies that, to the best of its 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.

SIGNATURES

After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information with respect to it set forth in this statement is true, complete, and correct.

Dated: February 10, 2012