The technology sector has been trending down since the start of the year. The woes intensified last month after a spate of disappointing earnings reports from big players. Even earnings surprises from well-known chipmakers like Intel (INTC), Texas Instruments (TXN) and Qualcomm (QCOM) failed to bring cheer into the sector amid eroding investor confidence (read: Is the Nasdaq ETF (QQQ) Signaling More Trouble Ahead?). Let’s dig into the individual performances: Semiconductor Earnings in Focus Though Intel, the world’s largest chipmaker, topped our earnings estimates by a nickel, it missed our revenue estimates by $291 million and provided a disappointing revenue guidance. For Q2, Intel expects revenues in the range of $13.0–$14.0 billion, which is below the consensus estimate of $14.16 billion. For 2016, the company reduced its expected revenue growth to mid single digits from mid-to-high single digits. Texas Instruments reported solid Q1 results topping our earnings estimate by 3 cents and revenue estimate by $27 million. For the ongoing second quarter, the company expects revenues in the range of $3.07–$3.33 billion and earnings per share of 67–77 cents. The Zacks Consensus Estimate for the second quarter at the time of issuing the guidance was $3.17 billion for revenue and 71 cents for earnings. The second-quarter fiscal 2016 earnings at Qualcomm came in at 89 cents per share, beating our estimate by 7 cents. Revenues of $5.55 billion were also ahead of our estimate of $5.30 billion. The company guided revenues of $5.2–$6.0 billion and earnings per share of 76–86 cents for the third quarter of fiscal 2016. The Zacks Consensus Estimate for the fiscal third quarter at the time of issuing the guidance was $5.45 billion for revenue and 81 cents for earnings (read: Qualcomm Dividend Hike Put These Semiconductor ETFs in Focus). ETFs in Focus Yet, semiconductor ETFs have seen sluggish trading over the past one month with all the four funds down nearly 6%. However, this beaten down prices could create an attractive entry opportunity for bargain hunters as these products have a Zacks ETF Rank of 1 (Strong Buy) or 2 (Buy), suggesting their outperformance in the weeks ahead. Below, we have highlighted the funds in detail. iShares PHLX Semiconductor ETF (SOXX) This ETF follows the PHLX Semiconductor Sector Index and offers exposure to 30 firms. The in-focus three firms are among the top four holdings accounting for a combined 23.1% share in the basket. The fund has amassed $409.3 million in its asset base and trades in solid average volume of around 447,000 shares a day. The product charges 48 bps in fees a year from investors and has a Zacks ETF Rank of 1. Market Vectors Semiconductor ETF (SMH) This fund provides exposure to 26 securities by tracking the MVIS US Listed Semiconductor 25 Index. Of these, Intel takes the top spot at 14% while QCOM and TXN collectively make up for 12.2% share. The product has managed assets worth $215.3 million and charges 35 bps in annual fees and expenses. It is heavily traded with volume of around 2.8 million shares per day and has a Zacks ETF Rank of 2 (see: all the Technology ETFs here). SPDR S&P Semiconductor ETF (XSD) This fund tracks the S&P Semiconductor Select Industry Index, holding 41 stocks in its portfolio. It is widely spread across a number of securities as none of these allocates more than 4.3% of the assets. The in-focus three firms account for around 3% share each. The fund is less popular with AUM of $192.6 million and average daily volume of more than 136,000 shares. It charges 35 bps in fees per year and has a Zacks ETF Rank of 2. PowerShares Dynamic Semiconductors Fund (PSI) This fund tracks the Dynamic Semiconductor Intellidex Index, holding 30 securities in its basket. The in-focus three firms account for nearly 5% share each. The product, with AUM of $49.3 million is often overlooked by investors and hence sees a lower average daily volume of 18,000 shares. Expense ratio comes in at 0.63%. PSI has a Zacks ETF Rank of 2. Conclusion Despite the string of earnings beat, semiconductor ETFs are caught in the broad sector slump. Once the sentiment reverses, these funds are due for a rebound. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ISHARS-PHLX SEM (SOXX): ETF Research Reports VANECK-SEMICON (SMH): ETF Research Reports SPDR-SP SEMICON (XSD): ETF Research Reports PWRSH-DYN SEMI (PSI): ETF Research Reports INTEL CORP (INTC): Free Stock Analysis Report QUALCOMM INC (QCOM): Free Stock Analysis Report TEXAS INSTRS (TXN): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report