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

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

A number of equities analysts have recently commented on the company. Barclays lowered their price objective on Corsair Gaming from $12.00 to $9.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Macquarie reduced their price target on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Corsair Gaming in a research note on Monday, December 29th. Wedbush lowered their price objective on shares of Corsair Gaming from $13.00 to $9.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 5th. Finally, Wall Street Zen downgraded Corsair Gaming from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd.

Insider Buying and Selling

In other Corsair Gaming news, CEO Thi L. La bought 50,000 shares of the company’s stock in a transaction on Tuesday, November 25th. The shares were bought at an average price of $6.10 per share, for a total transaction of $305,000.00. Following the transaction, the chief executive officer owned 480,726 shares of the company’s stock, valued at approximately $2,932,428.60. This trade represents a 11.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Samuel R. Szteinbaum acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were acquired at an average cost of $6.59 per share, for a total transaction of $659,000.00. Following the acquisition, the director directly owned 420,267 shares of the company’s stock, valued at $2,769,559.53. This trade represents a 31.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 58.38% of the stock is currently owned by insiders.

Institutional Trading of Corsair Gaming

A number of institutional investors have recently bought and sold shares of CRSR. Massachusetts Financial Services Co. MA increased its position in shares of 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 buying an additional 401,171 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Corsair Gaming by 213.1% in the third quarter. JPMorgan Chase & Co. now owns 79,179 shares of the company’s stock worth $706,000 after acquiring an additional 53,890 shares during the last quarter. Virtus Advisers LLC raised its stake in Corsair Gaming by 300.1% in the 3rd quarter. Virtus Advisers LLC now owns 19,147 shares of the company’s stock valued at $171,000 after purchasing an additional 14,362 shares during the last quarter. Sherbrooke Park Advisers LLC acquired a new position in shares of Corsair Gaming in the third quarter valued at approximately $229,000. Finally, Polymer Capital Management US LLC purchased a new stake in Corsair Gaming in the 3rd quarter worth approximately $256,000. 25.66% of the stock is currently owned by hedge funds and other institutional investors.

Corsair Gaming Trading Down 1.0%

Shares of NASDAQ CRSR opened at $5.10 on Friday. Corsair Gaming has a twelve month low of $5.01 and a twelve month high of $13.02. The company has a current ratio of 1.48, a quick ratio of 0.72 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $5.99 and a 200-day simple moving average of $7.50. The stock has a market capitalization of $543.53 million, a PE ratio of -15.00 and a beta of 1.53.

Corsair Gaming (NASDAQ:CRSR) last posted its earnings results 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 positive return on equity of 3.37% and a negative net margin of 2.46%.The firm had revenue of $345.76 million for the quarter, compared to analyst estimates of $354.04 million. During the same period in the previous year, the company posted ($0.29) EPS. Corsair Gaming’s revenue was up 13.7% on a year-over-year basis. On average, equities analysts forecast that Corsair Gaming will post 0.22 earnings per share for the current 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.