Corsair Gaming (NASDAQ:CRSR) Upgraded to “Strong-Buy” at Roth Capital

Roth Capital upgraded shares of Corsair Gaming (NASDAQ:CRSR) to a strong-buy rating in a report published on Wednesday morning,Zacks.com reports.

CRSR has been the subject of several other research reports. Wall Street Zen raised shares of Corsair Gaming from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 20th. Weiss Ratings raised shares of Corsair Gaming from a “sell (e+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Corsair Gaming from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Wedbush upped their target price on shares of Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Barclays upped their target price on shares of Corsair Gaming from $8.00 to $9.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Corsair Gaming has a consensus rating of “Moderate Buy” and an average price target of $9.29.

Corsair Gaming Stock Performance

Shares of CRSR opened at $10.60 on Wednesday. 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 has a one year low of $4.48 and a one year high of $13.10. The firm has a market capitalization of $1.13 billion, a P/E ratio of 132.52 and a beta of 1.85. The business has a fifty day moving average of $9.03 and a 200 day moving average of $6.96.

Corsair Gaming (NASDAQ:CRSR) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.27 EPS for the quarter, beating 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 business earned $0.11 earnings per share. Corsair Gaming’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Corsair Gaming will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CRSR. Massachusetts Financial Services Co. MA raised its holdings in Corsair Gaming by 15.2% during 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 acquiring 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 third quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company’s stock worth $24,833,000 after acquiring 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 purchasing an additional 35,301 shares in the last quarter. 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 purchasing an additional 786,049 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Corsair Gaming by 506.2% during the fourth quarter. Millennium Management LLC now owns 635,798 shares of the company’s stock worth $3,777,000 after purchasing an additional 530,914 shares in the last quarter. 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.