NEW YORK (TheStreet) --Intel Corp. (INTC) - Get Report announced a multiyear research and development deal with Luxottica Group (LUX) to create a line of eyewear that fuses "premium, luxury, and sports eyewear with smart technology."

Intel said it is joining with Luxottica, an Italy-based eyewear company known for its popular Oakley and Ray-Ban lines, in order to "push the boundaries of research and development to anticipate what smart technology for eyewear will look like in the future."

The first "smart eyewear" device from Intel and Luxottica is scheduled to launch in 2015.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

"Through our collaboration with Luxottica Group, we will unite our respective ecosystems and bring together Intel's leading-edge silicon and software technology with Luxottica's design innovation and consumer expertise. We expect the combination of our expertise to help drive a much faster pace of innovation and push the envelope of what's possible," Intel CEO Brian Krzanich said in a statement.

Shares of Intel are up 0.27% to $37.70 in mid-morning trading on Wednesday.

Separately, TheStreet Ratings team rates INTEL CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate INTEL CORP (INTC) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. 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, notable return on equity, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

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

  • INTC's revenue growth trails the industry average of 18.6%. Since the same quarter one year prior, revenues slightly increased by 7.9%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • INTC's debt-to-equity ratio is very low at 0.23 and is currently below that of the industry average, implying that there has been very successful management of debt levels. Along with the favorable debt-to-equity ratio, the company maintains an adequate quick ratio of 1.33, which illustrates the ability to avoid short-term cash problems.
  • The return on equity has improved slightly when compared to the same quarter one year prior. This can be construed as a modest strength in the organization. Compared to other companies in the Semiconductors & Semiconductor Equipment industry and the overall market, INTEL CORP's return on equity exceeds that of both the industry average and the S&P 500.
  • Investors have apparently begun to recognize positive factors similar to those we have mentioned in this report, including earnings growth. This has helped drive up the company's shares by a sharp 56.02% over the past year, a rise that has exceeded that of the S&P 500 Index. Regarding the stock's future course, although almost any stock can fall in a broad market decline, INTC should continue to move higher despite the fact that it has already enjoyed a very nice gain in the past year.
  • You can view the full analysis from the report here: INTC Ratings Report

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