MU

Manufacturer of digital memory and storage solutions at 7.5x PE.
Expected to continue transitioning from the lower margin, “commodity” memory and storage chips into the “complex,” high-end, higher-margin chips used in Data Centers, Automotive, and Industrial markets.
The target market is expected to double in size by the end of the decade.
Recent technological strides were masked by industrywide headwinds.
Mid to high teens ROIC.
The robust balance sheet recently shifted from net debt to material net cash.