NEW YORK (TheStreet) -- Intel (INTC) announced that it has entered into an agreement with Panasonic's (PCRFY) System LSI Business Division to manufacture future system-on-chips (SoC) for the Japanese electronics manufacturer.
"We will deliver highly improved performance and power advantages with next-generation SoCs by leveraging Intel's 14nm Tri-Gate process technology through our collaboration," said Panasonic SLSI Business Division director Yoshifumi Okamoto.
Intel shares are down -0.3% to $31.05 while Panasonic shares are down -0.9% to $12.18 today.
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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 several positive factors, 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, solid stock price performance and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."