Methods and apparatus for processing multichannel signals in a multichannel receiver are described. In one implementation, a plurality of demodulator circuits may provide a plurality of outputs to a processing module, with the processing module then simultaneously estimating noise characteristics based on the plurality of outputs and generating a common noise estimate based on the plurality of outputs. This common noise estimate may then be provided back the demodulators and used to adjust the demodulation of signals in the plurality of demodulators to improve phase noise performance.