Corsair Gaming (NASDAQ:CRSR) Raised to Buy at Wall Street Zen

Corsair Gaming (NASDAQ:CRSR) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Other analysts also recently issued reports about the company. Wedbush dropped their price objective on Corsair Gaming from $9.00 to $7.00 and set an “outperform” rating for the company in a research report on Friday. Macquarie Infrastructure dropped their target price on shares of Corsair Gaming from $12.00 to $10.00 and set an “outperform” rating for the company in a report on Wednesday, November 5th. B. Riley Financial reaffirmed a “neutral” rating on shares of Corsair Gaming in a report on Friday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Corsair Gaming in a research report on Monday, December 29th. Finally, Craig Hallum set a $10.00 target price on shares of Corsair Gaming in a research report on Wednesday, November 5th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $8.79.

Corsair Gaming Stock Up 9.1%

Shares of CRSR opened at $5.17 on Friday. The firm has a 50 day simple moving average of $5.87 and a two-hundred day simple moving average of $7.31. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.48 and a quick ratio of 0.72. Corsair Gaming has a one year low of $4.59 and a one year high of $13.02. The company has a market cap of $550.99 million, a P/E ratio of -15.21 and a beta of 1.55.

Insider Buying and Selling

In other Corsair Gaming news, CEO Thi L. La bought 50,000 shares of Corsair Gaming stock in a transaction on Tuesday, November 25th. The shares were purchased at an average cost of $6.10 per share, with a total value of $305,000.00. Following the acquisition, the chief executive officer directly owned 480,726 shares of the company’s stock, valued at $2,932,428.60. The trade was a 11.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 58.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corsair Gaming

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Corsair Gaming by 4.0% in the third quarter. Vanguard Group Inc. now owns 6,916,703 shares of the company’s stock worth $61,697,000 after purchasing an additional 269,193 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Corsair Gaming by 15.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,042,943 shares of the company’s stock worth $18,075,000 after buying an additional 401,171 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Corsair Gaming by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,784,310 shares of the company’s stock valued at $24,833,000 after buying an additional 98,588 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Corsair Gaming by 5.2% in the second quarter. Geode Capital Management LLC now owns 1,231,456 shares of the company’s stock valued at $11,614,000 after buying an additional 61,075 shares during the period. Finally, New York State Common Retirement Fund raised its position in shares of Corsair Gaming by 0.4% during the second quarter. New York State Common Retirement Fund now owns 737,393 shares of the company’s stock worth $6,954,000 after acquiring an additional 2,969 shares during the last quarter. 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.