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TheStreet Open House

After-The-Bell Earnings Wrap: INTC, YHOO, LLTC

NEW YORK (TheStreet) -- Tech companies Intel (INTC), Yahoo! (YHOO) and Linear Technology (LLTC) reported after the bell on Tuesday.

Intel reported third-quarter net income of $3 billion on revenue of $13.5 billion. Revenue increased 5% since the second quarter but was flat on the year-ago period. Intel expects fourth-quarter revenue of $13.7 billion.

"The third quarter came in as expected, with modest growth in a tough environment," said Intel CEO Brian Krzanich.

Intel shares closed 0.26% lower to $23.39. In after-hours trading, the stock lost 2.1% to $22.91.

TheStreet Ratings team rates Intel as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate Intel Corp (INTC) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, increase in stock price during the past year, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."

Yahoo! reported third-quarter revenue had decreased 1% to $1.08 billion from $1.09 billion a year earlier.

"I'm very pleased with our execution, especially as we've continued to invest in and strengthen our core business," said Yahoo! CEO Marissa Mayer in a statement.

Net income for the period was $297 million, or 28 cents a share, compared to $3.16 billion, or $2.64 a share, in the year-ago quarter. Net income was significantly higher in the third quarter of 2012 due to a one-time partial sale of its Alibaba Group stake.

Yahoo! shares closed 1.8% lower to $33.38. In post-market trading, the stock had dipped a further 0.09% to $33.35.

TheStreet Ratings team rates Yahoo! a Buy with a ratings score of B-. TheStreet's team has this to say about their recommendation:

"We rate Yahoo! Inc (YHOO) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, compelling growth in net income, notable return on equity, reasonable valuation levels and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

Linear Technology reported first-quarter revenue of $340.4 million, a 2% year-on-year increase, beating expectations by $1.14 million. The circuit maker reported net income of $107.9 million, 6% higher than the preceding three months and 3% higher than first quarter FY2013.

The company, which sees much of its business from the auto industry, expects softer demand in the second quarter.

"Our second fiscal quarter has been challenging over the past three years partially due to the December quarter being a historically slow quarter for the automotive and industrial end-markets," said CEO Lothar Maier.

"Accordingly, we are forecasting revenue for our second quarter to be flat to down 4% from the first quarter of fiscal 2014."

Linear Technology shares closed 1.2% lower to $39.55, losing a further 3.2% in after-hours trading.

TheStreet Ratings team rates Linear Technology Corp as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate Linear Technology Corp (LLTC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its good cash flow from operations, expanding profit margins, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

Written by Keris Alison Lahiff.

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