NEW YORK (TheStreet) -- Shares of Mentor Graphics (MENT) were rising 5.01% to $23.27 in after-hours trading on Thursday after the company posted better-than-anticipated results for the 2017 fiscal second quarter.

After today's closing bell, the Wilsonville, OR-based electronic design automation company posted adjusted earnings of 15 cents per share, exceeding analysts' estimates of 9 cents per share.

Revenue came in at $254 million, higher than analysts' expectations of $245 million.

"Emulation was strong this quarter, as we did business with more than 20 customers including four new logos, and reinforced our lead in networking applications. In addition, automotive products had another strong bookings quarter," CEO Walden Rhines said in a statement.

For the third quarter, Mentor Graphics sees earnings of about 42 cents per share on revenue of $310 million. Analysts are looking for earnings of 41 cents per share on revenue of $309.6 million.

Full-year earnings per share are expected to be about $1.68 on revenue of approximately $1.22 billion. Wall Street is projecting earnings of $1.84 per share on revenue of $1.22 billion for fiscal 2017.

About 2.16 million of the company's shares changed hands today vs. its average volume of 668,943 shares per day.

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

The primary factors that have impacted the rating are mixed. 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 and expanding profit margins.

But the team also finds weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow.

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: MENT

Image placeholder title