Texas Instruments Inc. shares slid as much as 6.9% after the chipmaker gave a disappointing earnings forecast for the current period, hurt by still-sluggish demand and higher manufacturing costs.

Texas Instruments forecast first-quarter profit below analysts' estimates on Thursday, as the analog chipmaker grapples with an inventory buildup in its key automotive and industrial markets.

Texas Instruments shares tumbled Friday, leading other analog chipmaker stocks lower after the company’s disappointing profit forecast raised worries that a recovery for analog chips could be slower than anticipated.

What Happened? Shares of analog chip manufacturer Texas Instruments (NASDAQ:TXN) fell 5.9% in the morning session after the company reported underwhelming fourth-quarter results, with earnings guidance for the next quarter falling short of Wall Street's expectations.