IPhone SE (1st) randomly losing configuration goes to "Hello" setup mode.

This the second time this has happened. The phone asks for a non-existant PIN and goes into Hello/Hola... setup mode. Wifi does not connect (no Wifi Icon/Can't ping). It doesn't seem to connect to internet via LTE (as FindMy/Phone doesn't think it is connected). This is the second time I had to restore the phone from scratch. My theory is that the phone is dying and its configuration flash memory is randomly getting corrupted somehow.