Perspective Assets with Significant Discounts: Micron Technology
Semiconductors producer Micron Technology stocks are traded 40% of its highs in the beginning of 2022. The company is expanding together with the expanse of IT-products into daily life of people, as the demand for semiconductors form data centers, car producers would only grow. The target market was estimated at $161 billion in 2021, and would expand by 20% per year before 2025, according to company’s management estimates.
Micron plans to spend more than $150 billion for development in the next ten years to ensure the demand would be satisfied completely. And the company is able to do this as it moved from $5 billion net debt to $5 billion net cash flow in the last four years.
The company spend most of its profits on researches and on buybacks as it bought 13.8 million of its own shares for $981 million in the second quarter of 2022, while delivering earnings per share (EPS) at $0.115. The buyback amounts for 108 million shares in the last four years. The company has abilities to go further with a buyback as its free cash flow hit $3.8 billion in the second quarter, or 44% of its revenue.
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