Semiconductor exchange traded funds (ETFs) were on Wednesday’s agenda following quarterly results from and chip makers Broadcom (NasdaqGS: BRCM) and Altera (NasdaqGS: ALTR).

Broadcom shares were down nearly 8% in premarket trading Wednesday after the company reported first-quarter earnings that missed expectations. The growth in the mobile and wireless segment of the business “has slowed, at least in the near term,” said BMO Capital Markets in a research note.

Broadcom also announced a second-quarter revenue forecast that disappointed Wall Street.

Conversely, Altera was set for a higher open Wednesday following its quarterly update.

“Altera continues to execute well,” the BMO analysts remarked. “We believe the communications end-market is lining up nicely to provide continuing growth above the overall industry.”

Sector ETFs include Semiconductor HOLDRS (AMEX: SMH), PowerShares Dynamic Semiconductors Portfolio (NYSEArca: PSI) and SPDR S&P Semiconductor ETF (NYSEArca: XSD).

The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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