Wells Fargo analyst David Wong believes Intel's (INTC) acquisition of Altera (ALTR) builds on the company's strengths and creates value. Wong sees several benefits that Intel could realize from the deal, including the manufacturing connection between the two companies as well as greater penetration into the communications and networking infrastructure market. The analyst keeps an Outperform rating on Intel with a $40-$50 price target range.

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The U.S. Department of Defense has awarded Intel Foundry Phase Three of its Rapid Assured Microelectronics Prototypes - Commercial, or RAMP-C, program, the company announced. "The award was announced through the National Security Technology Accelerator's consortium-based Strategic and Spectrum Missions Advanced Resilient Trusted Systems Other Transaction Authority program. The third phase of RAMP-C advances the tape-out and testing of early defense industrial base product prototypes, signifying a critical milestone for the program that highlights the readiness of Intel 18A process technology, intellectual property and ecosystem solutions for high-volume manufacturing. As part of the announcement, RAMP-C customers can begin manufacturing commercial and DIB product prototypes on Intel 18A process technology," Intel stated. Reference Link