Heartland Value Fund's Views on Photronics (PLAB)

Heartland Advisors , an investment management company, released its second-quarter 2026 investor letter for "Heartland Value Fund". A copy of the letter can be downloaded here . The AI trend continues to drive the market in the quarter. Small-cap stocks continue to outperform, with the Russell 2000® Index rising 21.49% in the quarter. The Heartland Value Fund gained 17.05% in the quarter, compared with the 17.19% return for the Russell 2000® Value Index. In addition, you can check the Fund's top 5 holdings to determine its best picks for 2026.

In its Q2 2026 investor letter, Heartland Value Fund highlighted Photronics, Inc. (NASDAQ: PLAB ). Based in Brookfield, Connecticut, Photronics, Inc. (NASDAQ:PLAB) is a US-based technology company that engages in the business of photomask products and services. On July 14, 2026, Photronics, Inc. (NASDAQ:PLAB) closed at $29.47 per share, reflecting a market capitalization of $1.73 billion. Photronics, Inc. (NASDAQ:PLAB) posted a one-month return of -4.97%, while its shares gained 53.73% over the past 52 weeks.

Heartland Value Fund stated the following regarding Photronics, Inc. (NASDAQ:PLAB) in its Q2 2026 investor update:

At the same time, we've been finding plenty of segments of the market where the AI herd hasn't been roaming. In the second quarter, we added to 51 of our existing positions across numerous sectors, including Energy, Financials, Health Care, Communications, Real Estate, and Industrials. When we do buy, we're not simply deploying flows or chasing parts of the market that are making new highs. We are adding exposure in securities that we believe are attractively priced and still represent a good risk/reward balance.

A good example is Photronics, Inc. (NASDAQ:PLAB). Earlier this year, we reduced our stake in PLAB, a leading manufacturer of photomasks that are used to transfer circuit patterns onto semiconductor wafers and flat panel substrates during the fabrication process. The shares more than doubled from December to May, and we felt the stock was getting caught up in the mania surrounding the AI buildout, so we took some money off the table as it reached our price target..." ( Click here to read the full text )

Photronics, Inc. (NASDAQ:PLAB) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026 . According to our database, 27 hedge fund portfolios held Photronics, Inc. (NASDAQ:PLAB) at the end of the first quarter, compared to 31 in the previous quarter. While we acknowledge the potential of Photronics, Inc. (NASDAQ:PLAB) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock .

In another article , we covered Photronics, Inc. (NASDAQ:PLAB) and shared the list of best small-cap semiconductor stocks to buy. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey .

Sinergia Empresarial continuará el seguimiento de esta información sobre heartland Value Fund's Views on Photronics (PLAB) y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.