Shares of Texas Instruments were sliding Wednesday after the company's lackluster second-quarter guidance prompted several analysts to cut their price targets on the stock.

Texas Instruments (ticker: TXN) posted earnings Tuesday afternoon. And while the semiconductor company reported an earnings beat for its first quarter, its second-quarter outlook left investors and analysts concerned.

The company is expecting revenue to range between $4.2 billion and $4.8 billion — well below the consensus estimate for $4.9 billion. In a call with investors, management attributed the reduction to factory shutdowns in China.

"Although we expect business to come back, we note the 2Q22 guide was below seasonal even excluding the COVID impact," wrote Citi analyst Christopher Danely in a research note. "We continue to expect lower margins due to increasing capital expenditures and depreciation."

Danely reiterated a Neutral rating, but lowered his price target to $160 from $187.

Mizuho Securities' Vijay Rakesh also cut his price target to $175 from $190, saying that while he saw strong execution and capital return the company could face supply-chain risks in the long run.

Rakesh and Danely are among the majority of analysts who rate the stock at Neutral. Of the 31 covering the stock polled by FactSet, 52% rated it Hold, and 35% gave it a Buy or Overweight.

KeyBanc Capital Markets analyst John Vinh kept an Overweight rating on the stock, even while lowering his price target to $220 from $240 to reflect the lockdowns in China and higher capital expenditure plans to expand capacity.

The analyst said he maintained a long-term view that Texas Instruments "stands to benefit from [long-term] share gains as it ramps capacity."

Vinh pointed to the company's first-quarter results, which beat Wall Street expectations. Texas Instruments reported earnings per share of $2.35, compared to estimates calling for $2.18. Revenue beat as well, coming in at $4.9 billion, above forecasts for $4.74 billion.

Texas Instruments stock was down 3.4% to $162.69 in premarket trading. The shares have lost 10% this year.

Chipmaker stocks have been battered these last few weeks amid concerns that chip demand may be slowing down. Nvidia NVDA) was down 0.8% in premarket trading, while Advanced Micro Devices (AMD) was losing 0.7%. Intel Corp. (INTC) was ticking up 0.7%