27% profits every 20 days?
This is what Nic Chahine averages with his options 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.
Semtech Corp (NASDAQ:SMTC) shares are rising Thursday after the company reported better-than-expected financial results after the close on Wednesday.
- Q1 Revenue: $236.54 million beat estimates of $234.99 million
- Q1 EPS: 2 cents beat estimates for a loss of 8 cents
"Semtech exceeded the midpoint of our revenue and earnings guidance as we see signs of business stabilization," said Mohan Maheswaran, president and CEO of Semtech.
"As we continue to navigate this challenging macro-economic environment, we are taking steps to improve our operational efficiency and financial performance while focusing on executing our plans."
On June 6, Semtech entered into a second amendment to its existing credit agreement that provides additional cushion with respect to certain financial covenants.
Outlook: Semtech sees fiscal second-quarter revenue in the range of $233 million to $243 million. Gross margin is expected to be between 42.6% and 44.8% versus 43.5% in the first quarter.
See Also: Here Are 20 Stocks Moving Today
SMTC Price Action: Semtech shares were up 20.4% at $27 at the time of writing, per Benzinga Pro.
Photo: Michael Schwarzenberger from Pixabay.
27% profits every 20 days?
This is what Nic Chahine averages with his options 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!