Bad gasoline! Either the octane is too low, or it is stale or has trace water in it. Use fresh gas with high octane of 93 or better. Avoid gas with ethanol (as high as 10% at some stations).
Second, mix to the correct ratio. 50:1, 40:1.....sounds like the same thing but the wrong ratio can make the saw run hot.
Finally, make sure the saw is free of shavings around the cooling fins on the engine and make sure it is set for summer use versus winter use (an option on most saws)
Farmer Jon, September 2008