Semiconductor heavyweight (NASDAQ: INTC) announced last week that it would be separating its programmable chip segment from the rest of the business. The field programmable gate array (FPGA) business will be operated under its own CEO, with an eye toward a partial IPO within three years.

Intel's stock rose slightly on the news when announced, but the move could be interpreted both positively or negatively. Either way, the FPGA separation follows several spinoffs and capital raises Intel has made over the past couple years.

Moreover, it's also possible -- or even likely -- Intel isn't going to stop here. Under CEO Pat Gelsinger, Intel appears to be on a path to a long-term reorganization, which could eventually result in Intel breaking up into several different companies.

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Source Fool.com