Corsair Gaming (NASDAQ:CRSR) Sets New 52-Week High – Still a Buy?

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CRSR shares. Robert W. Baird set a $6.00 target price on shares of Corsair Gaming in a report on Friday, February 13th. 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. Craig Hallum upped their price objective on shares of Corsair Gaming from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Corsair Gaming from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 9th. Finally, Barclays raised their target price on shares of Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.33.

Corsair Gaming Stock Up 24.9%

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 1.74. The business has a 50 day simple moving average of $6.46 and a 200-day simple moving average of $6.06. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 156.16 and a beta of 1.59.

Corsair Gaming (NASDAQ:CRSR) last announced 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 net margin of 0.71% and a return on equity of 9.71%. The firm had revenue of $354.51 million for the quarter, compared to analysts’ expectations of $351.58 million. During the same quarter in the previous year, the company posted $0.11 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. On average, equities analysts expect that Corsair Gaming, Inc. will post 0.46 EPS for the current year.

Institutional Trading of Corsair Gaming

A number of hedge funds and other institutional investors have recently made changes to their positions in CRSR. Bank of America Corp DE grew its position in Corsair Gaming by 149.5% in the first quarter. Bank of America Corp DE now owns 230,700 shares of the company’s stock worth $1,280,000 after acquiring an additional 138,242 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Corsair Gaming by 160.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 123,537 shares of the company’s stock valued at $686,000 after purchasing an additional 76,054 shares during the period. Cetera Investment Advisers acquired a new position in shares of Corsair Gaming in the 1st quarter valued at $56,000. First Trust Advisors LP purchased a new position in shares of Corsair Gaming during the 1st quarter worth $606,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Corsair Gaming by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 228,159 shares of the company’s stock worth $1,266,000 after purchasing an additional 4,735 shares during the period. Institutional investors and hedge funds own 25.66% of the company’s stock.

Corsair Gaming Company Profile

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.