A valve for controlling a wastegate actuator of a turbocharger. The valve includes a bobbin having a coil for generating a magnetic field and a stator having a top portion and an internal channel. The valve also includes a housing having a compressor port, a wastegate actuator port and an atmospheric port. The housing also includes a pair of walls for enabling movement of a permanent magnet between a first position wherein a magnetic attraction is formed between the top portion and the magnet to seal the internal channel to enable substantially equal boost pressure levels in the compressor and the wastegate actuator ports. The magnet is also movable to a second position wherein a magnetic field is generated by the coil for repelling the magnet to unseal the internal channel to enable a portion of the boost pressure level to be vented to atmosphere.