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Rambus Inc. (RMBS - Free Report) recently announced its partnership with California Lighting Technology Center (CLTC) at the University of California, Davis.

The partnership will provide Rambus the opportunity to further develop energy-efficient lighting solutions and team up with other lighting industry experts, thereby providing quality solutions to customers. The collaboration will also provide Rambus access to state of the art research.

Rambus’ products include A19, PAR30, and BR30 LED lamps, which leverage its MicroLens optical technology, help generate consistent lighting and control spherical distribution of light. It recently added a new feature to its light emitting diode (LED) bulbs, which will have a regulator to adjust in-bulb color temperature from 5000K (i.e. cool colors) to 3000K (i.e. warm colors).

Established in 2003, CLTC is an exclusive and dynamic organization, accelerating the development and deployment of energy-efficient lighting and daylighting technologies while working in partnership with designers, manufacturers, end users, utilities and government agencies.

Rambus reported total revenue of $57.9 million in the second quarter, up 3.0% from $56.2 million a year ago and within the company expected range of $53.0 million to $58.0 million.

Rambus is an innovative technology solutions company that invents, develops, offers, and licenses technology and creates semiconductor memory architectures. 

We are encouraged by Rambus’ decision to divest its Display patent assets to Acacia Research Corp. and to focus wholly on the Lighting space, given the enormous growth prospects in this market.

Also, competition from Semiconductor Manufacturing International Corp.(SMI - Free Report) , LSI Corp. (LSI - Free Report) and Advanced Micro Devices, Inc. (AMD - Free Report) and oversupply in the semiconductor market are concerns.

Currently, Rambus has a Zacks Rank #3 (Hold).

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