Shares of Rambus RMBS appreciated 8.2% on Wednesday after the semiconductor product provider announced initiating an accelerated share repurchase (ASR) program and two acquisitions.Continuing with its efforts to enhance shareholder value, Rambus announced that it will buy back $100 million worth of the company’s common stocks under an ASR program. This initiative reflects the California-based company’s sound financial position and favorable prospects.Rambus announced an agreement with Deutsche Bank in this connection. Per the agreement, Rambus will pre-pay $100 million to Deutsche Bank, while in return it will initially receive approximately 4 million shares. The program is anticipated to complete within six months.The number of shares to be repurchased will be calculated on the basis of Rambus’ volume weighted average share price during the transaction period, after adjusting for a discount.The company’s recently-announced $100-million ASR program is part of its broader 20-million share-repurchase program authorized last October. Later in November, the company entered into a $50-MILLION ASR program with Deutsche Bank, in return of which it had initially received 2.6 million of its common stock.Rambus’ financial strength enables it to continue with the buyback program. As of Mar 31, 2021, the company’s cash and marketable securities totaled $529 million. Its aggressive share-repurchase policies are anticipated to boost investor confidence. Rambus’ strategy to return wealth to shareholders highlights its growth potential and stable liquidity position.We believe, apart from strategic investments, continued focus on such shareholder-friendly initiatives will further boost the company’s shares. Remarkably, Rambus has rallied 25.6% in the year-to-date period, outperforming the Zacks Electronics - Semiconductors industry and S&P 500’s gain of 4% and 13.8%, respectively.Image Source: Zacks Investment ResearchAdditionally, in separate press releases, Rambus announced that it has signed agreements to acquire AnalogX and PLDA for an undisclosed amount. While AnalogX provides low power multi-standard connectivity SerDes IP solutions, PLDA is an industry leader in Compute Express Link and PCI Express digital solutions.The acquisitions are likely to bring in crucial products and expertise to Rambus that will enhance its capabilities in the server memory interface chip market.The company expects to complete both acquisitions in the third quarter of calendar-year 2021. Moreover, it anticipates the transactions to be accretive in 2022.Zacks Rank & Stocks to ConsiderRambus currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the broader technology sector include Lam Research Corporation LRCX, Facebook FB and Zoom Video Communications ZM, all sporting a Zacks Rank #1 (Strong Buy), at present. You can see the complete list of today’s Zacks #1 Rank stocks here.The long-term earnings growth rate for Lam Research, Facebook and Zoom is currently pegged at 32.8%, 20.1% and 15.6%, respectively.Time to Invest in Legal MarijuanaIf you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Rambus, Inc. (RMBS): Free Stock Analysis Report Lam Research Corporation (LRCX): Free Stock Analysis Report Facebook, Inc. (FB): Free Stock Analysis Report Zoom Video Communications, Inc. (ZM): Free Stock Analysis Report To read this article on Zacks.com click here.