According to a 13D filed with the SEC, Marty Whtiman’s Third Avenue Management, owns a 9.63  % stake in Tellabs, Inc. As of 6/30/12, Third Avenue had a 6.30% stake in the company, making it the largest shareholder after BlackRock. With the latest filing, Third Avenue is now the largest owner of Tellabs, Inc. (NASDAQ:TLAB)  shares.

According to the filing, Third Avenue ‘ reserves the right to discuss and/or meet with management, the Board of Directors of the Issuer, other shareholders and other third parties and/or formulate plans or proposals regarding the Issuer or its securities. ‘

Tellabs (TLAB) supplies digital cross connects, broadband access equipment, data networking products (routers) and related services to telecom carriers globally. The company operates in five segments: Broadband Data, Access, Managed Access, Transport, and Services. Solutions from Tellabs, Inc. (NASDAQ:TLAB) enable service providers to deliver highquality voice, video, and data services through wireline and wireless networks.

Tellabs, Inc. (NASDAQ:TLAB) posted what many investors considered a weak Q3 and guided to an even weaker Q4.   Tellabs is betting on the 9200 edge router, which is expected to generate revenue by middle of 2013, to help resume top line growth.

For the nine months ended 28 September 2012, Tellabs, Inc. (NASDAQ:TLAB) revenues decreased 16% to $810.4M. Net loss decreased 19% to $148.4M. Revenues reflect Data segment decrease of 32% to $213.3M, Optical segment decrease of 9% to $334.8M, Service segment decrease of 11% to $146.8M, North America/Canada segment decrease of 22% to $390.8M, Other Foreign segment decrease of 10% to $419.6M. Lower net loss reflects Unallocated segment loss decrease of 18% to $278M.

Disclosure: No position