NEW YORK (TheStreet) -- Illumina  (ILMN - Get Report) stock is down by 0.07% to $145 in after-hours trading on Tuesday, after the company released earnings results for the 2015 third quarter. 

The company reported earnings of 80 cents per share for the most recent quarter, up from 77 cents per share year over year. 

Revenue grew by 14% from the year ago period, to $550 million from $481 million for the 2014 third quarter. 

Analysts had forecast for earnings of 79 cents per share on revenue of $556.07 million for the quarter. 

"The fundamentals of our business remain strong, despite a 3% miss to revenue expectations," CEO Jay Flatley said in a statement. "Our competitive position and product development pipeline are as robust as ever, which we believe will enable our continued penetration of the enormous market opportunities ahead."

Based in San Diego, Illumina is engaged in production development of sequencing and array-based solutions for genetic analysis.

Separately, TheStreet Ratings team rates ILLUMINA INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:

We rate ILLUMINA INC (ILMN) 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself and weak operating cash flow.

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

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