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Citigroup says its channel checks indicate Altera's (ALTR) 14nm tapeout at Intel (INTC) has been pushed out again from Q2 to the second half of the year. Its checks also show that Altera has been "very aggressive" in pricing to gain back market share in Asia. Citi sees the two issues as negative for Altera, Intel and Xilinx (XLNX), and positive for TSMC (TSM) and Samsung.

Argus raised the firm's price target on TSMC to $160 from $130 and keeps a Buy rating on the shares. The analyst cites the company's Q1 earnings and revenue beat, stating that while the stock sold off on cautious company guidance for industry demand growth in 2024, the firm still expects solid company growth as inflation recedes and electronic device demand picks up. Throughout a down 2023, demand for the company's 5nm products remained strong, and TSMC has successfully ramped 3 nm node products, the firm added.

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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