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Feeling Chipper: Semiconductor Makers Ride Tech Wave Higher

Last night's post-market earnings announcements lit a firecracker under the tech sector and ignited the semiconductor stocks along the way. The

Philadelphia Stock Exchange Semiconductor Index

shot up 6.1% today, while the

Dow Jones U.S. Semiconductor Index

climbed 6.3% gain.

The chipmakers may have been caught up in the joy following

Microsoft's

(MSFT) - Get Microsoft Corporation (MSFT) Report

raised revenue guidance and the fact that both

Yahoo!

(YHOO)

and

Motorola

(MOT)

beat analysts' bottom-line expectations by a penny.

Advanced Micro Devices

(AMD) - Get Advanced Micro Devices, Inc. Report

, which is due to report second-quarter earnings after the bell today, was climbing 8.7% to $22.96 recently.

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Applied Micro Circuits

(AMCC)

tried to keep pace, posting a gain of 8.5% to $15.86.

PMC-Sierra

(PMCS)

was adding 9.5% to $27.95 recently, but was off its earlier highs.

But the highest-flyer was

Vitesse Semiconductor

(VTSS)

, which was rising 17.5% today to $18.95. Call option activity surrounding the stock was strong today, implying the possibility of a big move in the stock price.

Texas Instruments

(TXN) - Get Texas Instruments Incorporated Report

was up 7.8% to $32.42,

Intel

(INTC) - Get Intel Corporation (INTC) Report

was rising 5.8% to $29.68, and

Broadcom

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was higher by 6.1% to $40.70.