NEW YORK (TheStreet) -- Shares of NVIDIA Corp. (NVDA) are rising, up 1.07% to $19.75, in pre-market trading Monday after the semiconductor company was upgraded to "sector perform" from "underperform" by analysts at Pacific Crest this morning.
Analysts at the firm cited the graphics chip maker's market share gains in the high-end graphics chip industry.
Pacific Crest analysts also cited the product delays of its competitor Advanced Micro Devices, Inc (AMD) for the raise in rating.
Must Read: Warren Buffett's 25 Favorite Stocks
The Santa Clara, CA-based company makes graphics chips that are used in personal computers, as well as mobile processors which are used in cell phones, tablets and auto infotainment systems.
Separately, TheStreet Ratings team rates NVIDIA CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate NVIDIA CORP (NVDA) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."