Intel Corp.’s future has been a hot topic on Wall Street lately, and it’s poised to stay that way into another week following a new report about possible deal activity.
This time, it’s from The Wall Street Journal, which said that Broadcom Inc. (AVGO) and Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) are looking separately at deals for different parts of Intel’s empire.
Intel and TSMC declined to comment. Broadcom didn’t immediately return MarketWatch’s request for comment.
Shares of Intel are up 5% in Tuesday’s premarket trading.
While there had already been speculation that TSMC was considering a move that would see it get more involved in Intel’s fabrication business, the new component in the reporting is the idea that Broadcom may be interested in Intel’s chip-design and marketing businesses.
Bernstein analyst Stacy Rasgon is intrigued. “We want Broadcom to stay away from the fabs, but would love to see what they could do with the products,” he wrote in a Monday note to clients. Broadcom would likely be able to execute Intel’s x86 central-processing-unit business better than what Intel has been showing recently, he noted.
Broadcom has a history of cutting costs and boosting prices after making acquisitions, Raymond James analyst Srini Pajjuri said in a report.
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