NEW YORK (TheStreet) -- Intersil (ISIL) posted better-than-anticipated 2016 third quarter earnings and revenue late Monday.

After the closing bell, the Milpitas, CA-based chipmaker reported adjusted earnings of 22 cents per share, higher than analysts' projections of 18 cents per share.

Revenue grew 8% year-over-year to $139.0 million and surpassed Wall Street's estimates of $137.6 million.

The company did not provide guidance for the 2016 fourth quarter due to its pending $3.2 billion sale to Japanese semiconductor company Renesas Electronics.

The all-cash deal was announced in mid-September and is expected to close in the first half of 2017.

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Intersil stock closed slightly higher on Monday.

Separately, TheStreet Ratings objectively rated Intersil 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.

TheStreet Ratings rated this stock as a "buy" with a ratings score of B.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

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

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