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NEW YORK (TheStreet) -- Shares of Analog Devices (ADI) - Get Free Report are retreating 0.67% to $55 in pre-market trading on Wednesday after the company reported better-than-expected results for the 2016 fiscal second quarter but provided a downbeat outlook.

Before the market open, the Norwood, MA-based semiconductor company reported earnings of 64 cents per diluted share, topping analysts' expectations of 62 cents per share.

Revenue for the quarter was $778.8 million, slightly higher than Wall Street's estimates of $777.58 million.

For the 2016 fiscal third quarter, Analog Devices sees earnings per share between 66 cents and 74 cents on revenue of $800 million to $840 million.

Analysts are looking for earnings of 75 cents per share on revenue of $846.6 million.

Separately, TheStreet Ratings Team has a "Buy" rating with a score of B+ on the stock.

The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, notable return on equity and expanding profit margins.

The team believes its strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author

You can view the full analysis from the report here: ADI

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