2 deleted 51 characters in body
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Try this:

sed 's/PLOG_NFET_SLVTSLVT/PLOG_NFET_LVTLVT/;s/nl=20n20n/nl=14n14n/'

Example

$ echo "PLOG_NFET_SLVT nf=3 ng=1 nl=20n" | \
    sed 's/PLOG_NFET_SLVTSLVT/PLOG_NFET_LVTLVT/;s/nl=20n20n/nl=14n14n/'
PLOG_NFET_LVT nf=3 ng=1 nl=14n

Try this:

sed 's/PLOG_NFET_SLVT/PLOG_NFET_LVT/;s/nl=20n/nl=14n/'

Example

$ echo "PLOG_NFET_SLVT nf=3 ng=1 nl=20n" | \
    sed 's/PLOG_NFET_SLVT/PLOG_NFET_LVT/;s/nl=20n/nl=14n/'
PLOG_NFET_LVT nf=3 ng=1 nl=14n

Try this:

sed 's/SLVT/LVT/;s/20n/14n/'

Example

$ echo "PLOG_NFET_SLVT nf=3 ng=1 nl=20n" | sed 's/SLVT/LVT/;s/20n/14n/'
PLOG_NFET_LVT nf=3 ng=1 nl=14n
1
source | link

Try this:

sed 's/PLOG_NFET_SLVT/PLOG_NFET_LVT/;s/nl=20n/nl=14n/'

Example

$ echo "PLOG_NFET_SLVT nf=3 ng=1 nl=20n" | \
    sed 's/PLOG_NFET_SLVT/PLOG_NFET_LVT/;s/nl=20n/nl=14n/'
PLOG_NFET_LVT nf=3 ng=1 nl=14n