Bank of New York Mellon Corp Buys Shares of 296,469 Corsair Gaming, Inc. $CRSR

Key Points

• Bank of New York Mellon acquired 296,469 Corsair Gaming shares worth approximately $2.87 million, while other institutional investors also increased positions. Institutions collectively own 25.66% of the company.
• Corsair reported quarterly EPS of $0.23, beating estimates of $0.07, and revenue of $314.33 million versus expectations of $310.47 million; however, revenue declined 1.8% year over year.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and a $12.00 average price target, though Goldman Sachs downgraded the stock to “Sell.”

Bank of New York Mellon Corp purchased a new position in Corsair Gaming, Inc. (NASDAQ:CRSR - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 296,469 shares of the company's stock, valued at approximately $2,867,000. Bank of New York Mellon Corp owned approximately 0.28% of Corsair Gaming as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Corsair Gaming during the second quarter valued at $114,000. GSA Capital Partners LLP purchased a new stake in shares of Corsair Gaming in the second quarter worth $2,359,000. Byrne Asset Management LLC purchased a new stake in shares of Corsair Gaming in the second quarter worth $147,000. Bank of America Corp DE increased its holdings in shares of Corsair Gaming by 149.5% during the first quarter. Bank of America Corp DE now owns 230,700 shares of the company's stock valued at $1,280,000 after acquiring an additional 138,242 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Corsair Gaming by 160.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 123,537 shares of the company's stock worth $686,000 after purchasing an additional 76,054 shares during the last quarter. Institutional investors own 25.66% of the company's stock.

Corsair Gaming Stock Performance

Corsair Gaming stock opened at $12.72 on Monday. Corsair Gaming, Inc. has a one year low of $4.48 and a one year high of $14.98. The business's fifty day moving average is $10.88 and its 200 day moving average is $8.36. The stock has a market capitalization of $1.38 billion, a PE ratio of 42.40 and a beta of 1.88. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.75 and a quick ratio of 1.04.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.16. The business had revenue of $314.33 million during the quarter, compared to analyst estimates of $310.47 million. Corsair Gaming had a return on equity of 13.10% and a net margin of 2.36%.Corsair Gaming's revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. Corsair Gaming has set its FY 2026 guidance at 0.850-0.940 EPS and its Q3 2026 guidance at 0.090-0.120 EPS. On average, sell-side analysts predict that Corsair Gaming, Inc. will post 0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on CRSR shares. Robert W. Baird set a $12.00 price target on shares of Corsair Gaming in a research note on Friday, August 7th. The Goldman Sachs Group lowered shares of Corsair Gaming from a "neutral" rating to a "sell" rating and set a $11.00 price objective for the company. in a research note on Wednesday, August 19th. Wall Street Zen cut shares of Corsair Gaming from a "strong-buy" rating to a "buy" rating in a report on Saturday. Wedbush upped their target price on shares of Corsair Gaming from $8.00 to $13.00 and gave the stock an "outperform" rating in a research note on Monday, August 3rd. Finally, Barclays increased their price target on shares of Corsair Gaming from $9.00 to $15.00 and gave the company an "overweight" rating in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Corsair Gaming has an average rating of "Moderate Buy" and a consensus price target of $12.00.

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.

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