Bank of America cut its earnings outlook for

Taiwan Semiconductor

(TSM) - Get Report

and

United Microelectronics

(UMC) - Get Report

, citing weakness in the consumer-electronics segment, while Prudential slashed its profit forecasts on a slew of chip companies.

Separately,

Chartered Semiconductor

( CHRT) said it won't meet its fourth-quarter revenue target due to weakening demand from end users.

Bank of America cut Taiwan Semiconductor's full-year 2002 estimate to 24 cents from 26 cents, and lowered its full-year 2003 forecast to 35 cents from 40 cents. For United Microelectronics, Bank of America downgraded its full-year 2002 outlook to 10 cents from 14 cents, and cut its full-year 2003 forecast to 17 cents from 23 cents.

Meanwhile, Prudential decreased its fourth-quarter and 2003 estimates for

Anadigics

(ANAD)

,

Broadcom

(BRCM)

,

Emcore

(EMKR) - Get Report

,

LSI Logic

(LSI) - Get Report

,

Microchip Technology

(MCHP) - Get Report

,

Pericom Semiconductor

(PSEM)

,

STMicroelectronics

(STM) - Get Report

,

Microtune

( TUNE),

Texas Instruments

(TXN) - Get Report

,

Atmel

( ATLM),

Exar

(EXAR)

, Nvidia

(NVDA) - Get Report

,

PMC-Sierra

(PMCS)

and

Vitesse

(VTSS)

, citing consumer sluggishness. For 2003, Prudential now estimates earnings growth in the midteens, vs. previous estimates of 20% growth.