Semiconductor exchange traded funds were among the worst-performing sector ETFs on Monday after Wall Street analysts downgraded Fairchild Semiconductor International (NYSE: FCS).

Fairchild was cut to neutral from outperform at Robert W. Baird & Co. on expectations of a decline in semiconductor orders this quarter, Bloomberg reported. The chipmaker’s shares were down 7%.

The stock is a holding in PowerShares Dynamic Semiconductor (NYSEArca: PSI) and SPDR S&P Semiconductor (NYSEArca: XSD). Both ETFs slipped more than 1% on Monday.

Separately, Miller Tabak & Co. analysts on Monday reiterated their buy rating on Fairchild.

Subscribe to our free daily newsletters!
Please enter your email address to subscribe to ETF Trends' newsletters featuring latest news and educational events.