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10 Stocks to Buy for the Car of Tomorrow

Stocks to buy if you believe in connected cars and autonomous driving

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Tech Stocks to Buy: Methode Electronics (MEI)

Tech Stocks to Buy: Methode Electronics (MEI) Methode Electronics Inc. (NYSE:MEI) produces automotive electronics, user interfaces, sensors and switches, and power distribution products. The driver interacts with the car through the user interface, making this a critical component of a smart car. Methode produces touchscreens, biometrics and haptic controls (which allow drivers to feel the interface and not take their eyes off the road).

Methode is 74.8% above its 52-week low. Although Methode may not be valued as cheaply as Lear and Magna, MEI still offers some upside. Methode stock trades at a multiple of 19.2 times earnings, 15.8 times forward earnings and 3.2 times book value.

Aside from valuation, Methode shows strong financials. It boasts a strong balance sheet with very low debt and is unlikely to face liquidity problems with a quick ratio of 3.8. Methode also earns a 10.8% net margin.

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