NEW YORK (TheStreet) -- Atmel (ATML) shares are up 0.24% to $8.42 in after-hours trading on Wednesday after the electronics manufacturer released its fourth quarter earnings results after the closing bell today.

The company reported fourth quarter net income of $49.2 million, or 12 cents per diluted share on adjusted basis, on revenue of $346 million, an 8% decline from the same period last year.

Analysts on average were expecting the San Jose, CA-based company to report earnings of 11 cents per diluted share on revenue of $346.8 million.

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TheStreet Ratings team rates ATMEL CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

"We rate ATMEL CORP (ATML) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including relatively poor performance when compared with the S&P 500 during the past year and weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

ATML Chart ATML data by YCharts

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