Corsair Gaming (NASDAQ:CRSR) Sets New 1-Year High – Time to Buy?

Corsair Gaming, Inc. (NASDAQ:CRSR) reached a new 52-week high during trading on Thursday . The company traded as high as $12.05 and last traded at $12.5440, with a volume of 4884373 shares changing hands. The stock had previously closed at $9.82.

Wall Street Analyst Weigh In

CRSR has been the subject of several research analyst reports. Wall Street Zen lowered shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 9th. Barclays upped their price objective on shares of Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Wedbush increased their price objective on shares of Corsair Gaming from $7.00 to $8.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Zacks Research downgraded Corsair Gaming from a “strong-buy” rating to a “hold” rating in a report on Friday, March 13th. Finally, Craig Hallum increased their target price on Corsair Gaming from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.33.

Corsair Gaming Stock Performance

The firm’s 50 day moving average is $6.46 and its two-hundred day moving average is $6.06. The stock has a market capitalization of $1.31 billion, a PE ratio of 156.16 and a beta of 1.59. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.74.

Corsair Gaming (NASDAQ:CRSR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.18 by $0.09. The company had revenue of $354.51 million during the quarter, compared to analysts’ expectations of $351.58 million. Corsair Gaming had a net margin of 0.71% and a return on equity of 9.71%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 EPS. As a group, research analysts predict that Corsair Gaming, Inc. will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Corsair Gaming by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company’s stock worth $61,697,000 after purchasing an additional 269,193 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Corsair Gaming by 15.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock valued at $18,075,000 after buying an additional 401,171 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Corsair Gaming by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company’s stock valued at $24,833,000 after buying an additional 98,588 shares during the period. State Street Corp grew its position in shares of Corsair Gaming by 2.1% during the fourth quarter. State Street Corp now owns 1,725,659 shares of the company’s stock worth $10,250,000 after buying an additional 35,301 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Corsair Gaming by 144.4% during the fourth quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock worth $7,904,000 after buying an additional 786,049 shares in the last quarter. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

About Corsair Gaming

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company’s solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.