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 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.

The company has recorded nine straight quarters of sales decline, as much of the electronics industry remains mired in a slowdown.

Texas Instruments reported strong December quarter results, but its March earnings forecast left investors wanting more.