Corsair Gaming, Inc. (NASDAQ:CRSR) Given Average Recommendation of “Hold” by Analysts

Corsair Gaming, Inc. (NASDAQ:CRSR) has been given a consensus rating of “Hold” by the eight analysts that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $9.0714.

Several analysts have commented on the company. Wall Street Zen cut Corsair Gaming from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Weiss Ratings restated a “sell (e+)” rating on shares of Corsair Gaming in a report on Monday, December 29th. B. Riley decreased their price target on shares of Corsair Gaming from $9.00 to $7.50 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Macquarie lowered their price objective on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Finally, Wedbush cut their target price on Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th.

Insider Transactions at Corsair Gaming

In other Corsair Gaming news, Director Samuel R. Szteinbaum purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were purchased at an average price of $6.59 per share, for a total transaction of $659,000.00. Following the completion of the acquisition, the director owned 420,267 shares of the company’s stock, valued at approximately $2,769,559.53. This represents a 31.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thi L. La purchased 50,000 shares of Corsair Gaming stock in a transaction on Tuesday, November 25th. The shares were acquired at an average cost of $6.10 per share, for a total transaction of $305,000.00. Following the completion of the transaction, the chief executive officer owned 480,726 shares of the company’s stock, valued at $2,932,428.60. This represents a 11.61% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 58.38% of the company’s stock.

Hedge Funds Weigh In On Corsair Gaming

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of Corsair Gaming by 213.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 79,179 shares of the company’s stock valued at $706,000 after acquiring an additional 53,890 shares in the last quarter. Virtus Advisers LLC lifted its stake in shares of Corsair Gaming by 300.1% during the third quarter. Virtus Advisers LLC now owns 19,147 shares of the company’s stock worth $171,000 after purchasing an additional 14,362 shares in the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in shares of Corsair Gaming in the third quarter worth about $229,000. Polymer Capital Management US LLC purchased a new stake in shares of Corsair Gaming in the third quarter worth about $256,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Corsair Gaming during the 3rd quarter valued at about $2,555,000. Hedge funds and other institutional investors own 25.66% of the company’s stock.

Corsair Gaming Stock Down 0.3%

Shares of NASDAQ:CRSR opened at $6.00 on Tuesday. Corsair Gaming has a 52-week low of $5.35 and a 52-week high of $13.02. The company has a market capitalization of $639.42 million, a P/E ratio of -17.65 and a beta of 1.53. The stock’s fifty day simple moving average is $6.44 and its 200-day simple moving average is $8.00. The company has a quick ratio of 0.72, a current ratio of 1.48 and a debt-to-equity ratio of 0.19.

Corsair Gaming (NASDAQ:CRSR) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Corsair Gaming had a negative net margin of 2.46% and a positive return on equity of 3.37%. The firm had revenue of $345.76 million for the quarter, compared to analysts’ expectations of $354.04 million. During the same period in the previous year, the company posted ($0.29) EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, equities research analysts forecast that Corsair Gaming will post 0.22 earnings per share for the current fiscal year.

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.