Semi tubular rivets are most commonly called "drilled rivets" in which the name comes from the hole in one end. The head of a standard rivet and the head of a drilled rivet are drastically different. On your standard solid "universal rivet" the head actually has a very small flat to it, then an odd radius out from each side of the flat. A lot of people will use a ballnose endmill to make a seat for the Universal rivet, which at time works, but is not correct.
For a Universal Rivet with sizes of 1/16", 3/32", 1/8" and 3/16"....they take an 1/8", 3/16" 1/4", and a 3/8" special ground cutter and the depths are .027, .040, .054, and .080 deep. This gives the rived heat a proper seat to set in to where it will not distort the head, or leave a ring around the head when bucking the rivet. When a standard ballnose endmill is used, if you hold the depth, then you lose the diameter. If you hold the diameter, you lose the depth. Both depth and diameter are critical to one another as far as aesthetics, and also function. For example if the rivet seat is too deep, and you have a series of rivets to do, you will either deform the part trying to get the rivet tight, or the two pieces that you are riveting together will not be tight and could possibly cause problems if it is a critical part being riveted together.
Now for the "semi tubular", or "drilled rivet", the head is actually a full radius. To make a proper seat for the rivet, you have to know both the head diameter and the head depth, then figure out what the proper radius is for those two figures. You can either do that by using your math functions that you learned back in school for figuring out the diameter for the segment of a circle. Or take the easy way out and use a cad program to figure the radius for you. But the drilled rivet IS a full radius unlike a solid rivet, so all you need to know is the radius you need, find the proper ballnose endmill, and go only as deep as the rivet head specifications.
Take for example a drilled rivet/semi tubular rivet from Hanson Rivets with the following specifications:
Semi-Tubular Rivet, Oval Head Type, Steel Rivet Material, Zinc Finish, Rivet Dia 1/16 In, Rivet Length 1/8 In, Head Dia 0.109 In, Head Height 0.017 In, Grip Range 0.074 to 0.104 In, Hole Size 0.064 In, Package Quantity 100
Notice that the head diameter is .109, and the height of the head is .017. In laying it out you have to use both thew diameter of the head, and the height of the rivet as shown in the pic below to figure your radius. You end up with a .096 radius. Which multiplied by two, to get your diameter, you end up with a .192 diameter, which ideally would be your cutter diameter. Since you can't buy a cutter that size off of the shelf, and most endmills come in fractional sizes, your next closet size is .187, or 3/16" diameter, or if you can find a 13/64" or .203, you could use that. one is .005 undersize, and the other is .011 oversize, so going with the ballnose endmill slightly undersize will work with taking into consideration the tolerances of your rivet head.
So using a 3/16" diameter ballnose, you want to touch off of your tool that you are going to cut a rivet seat into and go down .017 maximum depth. Any more than that and you may end up with a loose rivet job. You could go .001/.002 less on the depth to insure that when you roll the rivet over that both pieces are tight together.
Hopefully that explains things a little bit. If anyone is interested, you can normally find rivet specs from the manufacturer, or sign up to a place like IHS GlobalSpec and find a lot of specifications. Most of your rivets are all made to the same specifications. When i was working, i had a huge notebook that i kept all of my "Standards" drawings, "rivet specs", "clinch nut specs", and so on. A lot of things that you see daily and take for granted, just like rivets.....there really is an art to all of it.