CLearline Capital’s 5 Best Catalyst-Driven Value Stocks to Buy Now

4. MagnaChip Semiconductor Corporation (NYSE:MX)

Clearline bought just over 151,000 shares of MagnaChip Semiconductor Corporation (NYSE:MX) during Q3, building a position of 1.19 million shares valued at $16.36 million on September 30. Hedge funds have gradually been growing more bullish on the chipmaker, which is in the process of a major transformation that seeks to make it a smaller, more profitable company.

MagnaChip completed the sale of its Foundry Services Group and Fab 4 in September, using the proceeds to strengthen its balance sheet. The company anticipates strong future growth in several areas of its remaining operations as OLED and 5G adoption continue to grow, with plans to achieve a topline CAGR in the double digits and consistent gross profit margins in the 30% range.