Corsair Gaming (NASDAQ:CRSR) Raised to Strong-Buy at Roth Capital

Corsair Gaming (NASDAQ:CRSR) was upgraded by research analysts at Roth Capital to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other brokerages have also recently commented on CRSR. Wedbush upped their target price on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. Zacks Research raised shares of Corsair Gaming from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Craig Hallum reiterated a “hold” rating and set a $10.00 price objective on shares of Corsair Gaming in a research report on Monday, June 1st. Finally, Weiss Ratings upgraded shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corsair Gaming currently has a consensus rating of “Moderate Buy” and an average target price of $9.29.

Corsair Gaming Stock Up 7.3%

Shares of CRSR opened at $10.60 on Wednesday. The stock’s 50-day moving average price is $9.03 and its two-hundred day moving average price is $6.96. Corsair Gaming has a 12 month low of $4.48 and a 12 month high of $13.10. The company has a market capitalization of $1.13 billion, a PE ratio of 132.52 and a beta of 1.85. The company has a current ratio of 1.74, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18.

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

Hedge Funds Weigh In On Corsair Gaming

Institutional investors have recently added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA increased its position in 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 in the last quarter. Nano Cap New Millennium Growth Fund L P bought a new position in Corsair Gaming in the fourth quarter worth approximately $1,158,000. WINTON GROUP Ltd boosted its holdings in Corsair Gaming by 104.6% in the fourth quarter. WINTON GROUP Ltd now owns 182,991 shares of the company’s stock worth $1,087,000 after acquiring an additional 93,538 shares in the last quarter. Investor AB acquired a new stake in Corsair Gaming in the fourth quarter valued at approximately $741,000. Finally, AXQ Capital LP acquired a new stake in Corsair Gaming in the fourth quarter valued at approximately $323,000. 25.66% of the stock is owned by institutional investors and hedge funds.

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.