Citi raised its price target for Rambus (RMBS) shares to $17.50 saying recent developments indicate the company likely signs Intel (INTC) as a licensee this year. As proof, Citi offers recent data points around Intel's new Purley server platform to debut in 2017 using new memory architecture, Rambus's sponsorship of Intel Development Forum in August, and the company's prior comments of a "summer announcement." The firm keeps a Buy rating on Rambus. The stock closed yesterday at $14.91.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1... To see the rest of the story go to thefly.com. See Story Here

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