Institutional Ownership: Brandes Files 5.54% Position in NETGEAR (NTGR)

Rhea-AI Filing Summary

Brandes Investment Partners, L.P. reports beneficial ownership of 1,594,528 common shares of NETGEAR, representing 5.54% of the outstanding class. The filing discloses shared voting power for 1,061,526 shares and shared dispositive power for 1,594,528 shares, with no sole voting or dispositive power reported.

The reporting person is identified with the designation IA, PN. The submission includes a certification that the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

Positive

• Material institutional stake: Brandes reports ownership of 1,594,528 shares (5.54%), a meaningful holding size for shareholder composition.
• Transparent voting disclosure: Filing specifies shared voting power for 1,061,526 shares, clarifying the firm's participatory role in governance matters.

Negative

• None.

Insights

Financial Analyst

TL;DR Material passive stake disclosed: 1.59M shares (5.54%), signaling meaningful institutional ownership without an active control intent.

The Schedule 13G shows Brandes holds a substantial position in NETGEAR but files as a passive investor. The holding size crosses the 5% disclosure threshold, which is notable for shareholder composition analysis and may affect liquidity considerations for blocks of stock. Reported shared voting and dispositive powers indicate involvement through managed accounts rather than sole control. No indications of activist intent are present in the text; the filing asserts ordinary-course passive ownership.

Corporate Governance Expert

TL;DR A >5% passive filing is material to governance monitoring but shows no stated plan to influence control.

The document classifies the reporter as "IA, PN" and documents shared voting power on a significant subset of the position. From a governance perspective this is an item to track for board engagement potential, but the certification language explicitly disclaims acquisition with the purpose of changing control. The filing therefore signals a watchable, not activist, stakeholder.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 5)

NETGEAR, INC.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

64111Q104

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 64111Q104

1

Names of Reporting Persons

BRANDES INVESTMENT PARTNERS, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,061,526.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,594,528.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,594,528.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.5 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NETGEAR, INC.
(b)	Address of issuer's principal executive offices: 350 EAST PLUMERIA DRIVE, SAN JOSE, CALIFORNIA, 95134.
Item 2.
(a)	Name of person filing: Brandes Investment Partners, L.P.
(b)	Address or principal business office or, if none, residence: 4275 Executive Square, 5th Floor, La Jolla, CA 92037
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 64111Q104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,594,528
(b)	Percent of class: 5.54 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1,061,526
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1,594,528
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BRANDES INVESTMENT PARTNERS, LP

Signature:	/s/ Glenn Carlson
Name/Title:	Executive Director
Date:	08/11/2025

FAQ

How many NETGEAR (NTGR) shares does Brandes Investment Partners report owning?

The filing states Brandes owns 1,594,528 shares of NETGEAR common stock.

What percentage of NETGEAR does Brandes own according to the filing?

Brandes' position represents 5.54% of the outstanding class reported in the filing.

What voting power does Brandes report for its NETGEAR position?

The filing shows no sole voting power and shared voting power for 1,061,526 shares.

Does the filing indicate Brandes intends to influence control of NETGEAR?

The certification explicitly states the securities were acquired and are held in the ordinary course of business and were not acquired to change or influence control of the issuer.

What form was used to disclose Brandes' NETGEAR stake?

The ownership is disclosed on a Schedule 13G (amendment) filing, as stated in the document.