Corsair Gaming (NASDAQ:CRSR) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Corsair Gaming (NASDAQ:CRSR) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

CRSR has been the subject of several other research reports. Wedbush increased their price target 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 raised Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 20th. Craig Hallum reissued a “hold” rating and set a $10.00 price target on shares of Corsair Gaming in a research report on Monday, June 1st. Weiss Ratings upgraded Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Barclays lifted their price target on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Corsair Gaming presently has an average rating of “Moderate Buy” and an average target price of $8.33.

Corsair Gaming Trading Down 0.3%

NASDAQ CRSR opened at $8.86 on Tuesday. The company has a market capitalization of $946.96 million, a PE ratio of 110.76 and a beta of 1.85. The company has a fifty day moving average of $8.54 and a 200 day moving average of $6.70. Corsair Gaming has a 1 year low of $4.48 and a 1 year high of $13.10. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.74 and a quick ratio of 0.95.

Corsair Gaming (NASDAQ:CRSR) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates 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 EPS. Corsair Gaming’s quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts forecast that Corsair Gaming will post 0.46 earnings per share for the current year.

Institutional Trading of Corsair Gaming

A number of large investors have recently modified their holdings of CRSR. Massachusetts Financial Services Co. MA boosted its holdings in Corsair Gaming by 15.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock valued at $18,075,000 after purchasing 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 raised its holdings in Corsair Gaming by 2.1% in the fourth quarter. State Street Corp now owns 1,725,659 shares of the company’s stock valued at $10,250,000 after acquiring an additional 35,301 shares in the last quarter. Invesco Ltd. lifted its stake in Corsair Gaming by 144.4% in the fourth quarter. Invesco Ltd. now owns 1,330,581 shares of the company’s stock worth $7,904,000 after acquiring an additional 786,049 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in Corsair Gaming by 506.2% during the 4th quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock worth $3,777,000 after acquiring an additional 530,914 shares in the last quarter. Hedge funds and other institutional investors own 25.66% of the company’s stock.

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.