Intel (INTC) Extends Agreement With Altera (ALTR)

NEW YORK (TheStreet) -- Intel (INTC) announced Wednesday that it has expanded its manufacturing agreement with Altera (ALTR) to include multi-die devices.

Shares of Intel were gaining 0.1%to $25.48, and share of Altera were falling 1% to $36.06.

The agreement extends a previous deal between the two companies, and will see Altera and Intel work together to combine separate components including processor, memory, and programmable chips. The packages the companies produce will combine the density and integration benefits of traditional 2.5D/3D chip-packaging with "favorable economic metrics."

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

"We rate INTEL CORP (INTC) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in stock price during the past year, revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."

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

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