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. Shares of the over 90-year-old company fell about 4% in extended trading after TI also forecast first-quarter revenue largely in line with estimates,

Texas Instruments Inc. shares declined the most in nearly five years after the chipmaker gave a disappointing earnings forecast for the current period, hurt by still-sluggish demand and higher manufacturing costs.

Key Takeaways Texas Instruments shares tumbled Friday, leading other analog chipmaker stocks lower. The losses came after the company’s disappointing profit forecast raised worries about broader industry headwinds.