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NEW YORK ( TheStreet) -- Tellabs (Nasdaq: TLAB) hit a new 52-week low Wednesday as it is currently trading at $3.44, below its previous 52-week low of $3.45 with 462,770 shares traded as of 10:30 a.m. ET. Average volume has been 2.4 million shares over the past 30 days. Tellabs has a market cap of $1.29 billion and is part of the technology sector and telecommunications industry. Shares are down 13.5% year to date as of the close of trading on Tuesday. Tellabs, Inc. designs, develops, and supports telecommunications networking products for communication service providers in the United States and internationally.