Corsair Gaming (NASDAQ:CRSR) Stock Rating Upgraded by Roth Capital

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

Several other brokerages also recently commented on CRSR. Wall Street Zen upgraded Corsair Gaming from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 20th. Barclays upped their price target on Corsair Gaming from $8.00 to $9.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Zacks Research raised Corsair Gaming from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 7th. Wedbush raised their price objective on Corsair Gaming from $7.00 to $8.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $10.00 price objective on shares of Corsair Gaming in a report on Monday, June 1st. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.29.

Corsair Gaming Stock Up 7.3%

Corsair Gaming stock opened at $10.60 on Wednesday. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of 132.52 and a beta of 1.85. The firm’s fifty day moving average price is $9.03 and its two-hundred day moving average price is $6.96. Corsair Gaming has a 1-year low of $4.48 and a 1-year high of $13.10. 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 posted its 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 net margin of 0.71% and a return on equity of 9.71%. The company had revenue of $354.51 million for the quarter, compared to analyst estimates of $351.58 million. During the same quarter in the prior year, the business posted $0.11 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts predict that Corsair Gaming will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Corsair Gaming

A number of hedge funds and other institutional investors have recently modified their holdings of CRSR. Byrne Asset Management LLC bought a new position in shares of Corsair Gaming in the second quarter valued at approximately $147,000. Bank of America Corp DE lifted its holdings in Corsair Gaming by 149.5% during 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 lifted its holdings in Corsair Gaming by 160.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 123,537 shares of the company’s stock worth $686,000 after acquiring an additional 76,054 shares during the period. Cetera Investment Advisers purchased a new position in Corsair Gaming in the first quarter worth $56,000. Finally, First Trust Advisors LP purchased a new position in Corsair Gaming in the first quarter worth $606,000. 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.