In the broader industrial/auto end markets, we’re not at the bottom yet,’ Truist Securities analyst William Stein wrote.

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.

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.