Intel is said to be looking to diversify as its mainstay business is trying to cope with a lack of demand for its personal computers.
Shares of Intel are up by 0.09% to $33.02 at the start of trading on Monday morning.
Earlier discussions between the two Silicon Valley chip makers had come apart in April, with Altera reportedly turning down Intel's offer of $54 per share.
However, sources speaking with the Post seem to believe that a transaction is more likely this time around.
"You should not be surprised if a deal comes together quickly," a source said.
Shares of Altera have spiked on the Post report, and are higher by 5.37% to $46.81 this morning.
Separately, 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 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. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."