27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
- Allegro Microsystems Inc (NASDAQ:ALGM) reported first-quarter FY22 net sales growth of 64% year-on-year to $188.1 million, beating the analyst consensus of $177.6 million.
- Net sales from Automotive rose 74.8% Y/Y to $133.5 million, Industrial climbed 48.5% to $30.3 million, and other net sales increased 33.4% to $24.3 million.
- The non-GAAP gross margin expanded 30 bps to 52.2%. The non-GAAP operating margin expanded 970 bps to 22.3%.
- The non-GAAP EBITDA margin expanded 580 bps to 28.6%.
- Non-GAAP EPS of $0.18 beat the analyst consensus of $0.16.
- The company held $229.6 million in cash and equivalents. It generated $38.5 million in operating cash flow during the quarter.
- Automotive and Industrial businesses reached record revenue levels demonstrating strength across their increasingly diversified business, CEO Ravi Vig stated.
- The company said it achieved record revenue for Magnetic Sensors and Power ICs, reflecting increased content in its target applications.
- Outlook: Allegro sees Q2 net sales of $185 million - $191 million, above the analyst consensus of $179.3 million.
- The adjusted EPS guidance of $0.18 beat the analyst consensus of $0.16.
- Price action: ALGM shares traded higher by 7.56% at $27.19 on the last check Thursday.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!