During spoken-word recognition, listeners experience phonological competition between multiple word candidates, which increases, relative to optimal listening conditions, when speech is masked by noise. Moreover, listeners activate semantic word knowledge during the word's unfolding. Here, we replicated the effect of background noise on phonological competition and investigated to which extent noise affects the activation of semantic information in phonological competitors. Participants' eye movements were recorded when they listened to sentences containing a target word and looked at three types of displays. The displays either contained a picture of the target word, or a picture of a phonological onset competitor, or a picture of a word semantically related to the onset competitor, each along with three unrelated distractors. The analyses revealed that, in noise, fixations to the target and to the phonological onset competitor were delayed and smaller in magnitude compared to the clean listening condition, most likely reflecting enhanced phonological competition. No evidence for the activation of semantic information in the phonological competitors was observed in noise and, surprisingly, also not in the clear. We discuss the implications of the lack of an effect and differences between the present and earlier studies.