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NEW YORK ( TheStreet) -- Tellabs (Nasdaq: TLAB) hit a new 52-week low Monday as it is currently trading at $3.50, below its previous 52-week low of $3.51 with 2.9 million shares traded as of 3:40 p.m. ET. Average volume has been 2.2 million shares over the past 30 days. Tellabs has a market cap of $1.34 billion and is part of the technology sector and telecommunications industry. Shares are down 9.4% year to date as of the close of trading on Friday. Tellabs, Inc. designs, develops, and supports telecommunications networking products for communication service providers in the United States and internationally.