Corsair Gaming, Inc. (NASDAQ: CRSR) revealed that it has acquired a 51% stake in iDisplay Technology. The company provides high-performance gear for gamers and content creators.
iDisplay specializes in the research, development and manufacture of small and medium-sized display related products.
Corsair partnered with iDisplay in 2015 through its Elgato subsidiary and have together developed several key products. The Elgato Stream Deck range of products and the recently launched CORSAIR ELITE LCD series of all-in-one liquid coolers is one such example.
The President and Chief Operating Officer of Corsair, Thi La, said, “We’re delighted to welcome our long-standing partner iDisplay to Corsair as we continue to integrate display-based with touch-screen technologies into our feature-rich products for creators, gamers and streamers.”
Wall Street’s Take
With 3 Buys versus 3 Holds, the stock has a Moderate Buy consensus rating. The average Corsair price target of $32.50 implies 55.3% upside potential to current levels. Shares of the company are down 46.9% over the past year.
Negative Sentiment
TipRanks’ Stock Investors tool shows that investors currently have a Very Negative stance on Corsair with 5.2% of investors on TipRanks decreasing their exposure to CRSR stock over the past 30 days.
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