5 Best Stocks to Buy According to Don Morgan’s Brigade Capital

2. Magnachip Semiconductor Corporation (NYSE:MX)

Brigade Capital’s Stake Value: $18,768,000

Percentage of  Brigade Capital’s 13F portfolio: 2.1%

Number of  Hedge Fund Holders: 27

Magnachip Semiconductor Corporation (NYSE:MX) designs and produces analog and mixed-signal semiconductor platform solutions for communications, Internet of Things (IoT), consumer, computer, industrial, and automotive applications. Securities filings for Q2 2022 reveal that Brigade Capital owned 1.29 million shares of Magnachip Semiconductor Corporation (NYSE:MX) worth $18.7 million, representing 2.1% of the total 13F holdings.

On August 10, Needham Analyst Rajvindra Gill highlighted his confidence for Magnachip Semiconductor Corporation (NYSE:MX). He maintained a ‘Buy’ rating on the stock with a $22 price target.

Among the hedge funds tracked by Insider Monkey, 27 funds were bullish on Magnachip Semiconductor Corporation (NYSE:MX) at the end of Q2 2022, with combined stakes worth $210 million. Stephen Perkins’s Toronado Partners is the leading position holder in the company, with 2.5 million shares valued at around $37 million.