Tellabs, Inc. (NASDAQ:TLAB) scores best rally since 1983 on key announcements
Tellabs, Inc. (NASDAQ:TLAB) scored its best intraday rally since its market debut in 1983 after the Naperville, Illinois-based company named acting Chief Executive Officer Dan Kelly to the job permanently and announced dividend of $1 per share. The phone- equipment manufacturer said in a statement that Kelly, who will also work as president, begins the role immediately. The 51-year-old had earlier played role as the company’s executive vice president of global products.
The special $1 dividend, which will due to be paid on Dec. 21, comes as part of a plan to boost the stock after it lost to a 19- year low in November. The company declared plans last week to buyback almost $224.6 million worth of its stock to reward shareholders.
During the recent trading activity Tellabs, Inc. (NASDAQ:TLAB) held volume of 21.13 million shares with 367.53 million shares outstanding and 333.69 million shares floated in market. In the past twelve months company scored revenue of $1.13 billion and had -$153.30 million in earnings. The stock gave a gross margin of +39.74% whereas operating margin was -12.49%.
Tellabs kicked off the trading session at $3.29 and during the session edged up 20.68% and finally settled at $3.56. The latest dividend per share paid to stockholders in recent quarter, also known as div/yield was 2.25% for the firm. Beta value, the measure of stock’s risk in relation to its market or alternative benchmark was 0.63.
The technology sector firm’s top rivals include Alcatel Lucent SA (ADR) (NYSE:ALU) that fell -2.65% to $1.10 with the total traded volume of 19.92 million shares and Cisco Systems, Inc. (NASDAQ:CSCO) that dropped -0.53% to $18.91 with the total traded volume of 45.20 million shares.
TLAB is ahead of its 52 weeks low with 31.85% and lagging behind from its 52 weeks high price with -17.38%. TLAB’s last month’s stock price volatility remained 3.63%. The stock price of TLAB is moving forward from its 20 days moving average with +24.54% and remote positively from 50 days moving average with +12.47%.