Stock News Alert: Qualcomm Incorporated (NASDAQ:QCOM)

Qualcomm Incorporated (NASDAQ:QCOM) stock observed trading -18.62% off 52-week high price. On the other end, the stock has been noted 49.74% away from low price over the last 52-weeks. The stock disclosed a move of -0.17% away from 50 day moving average and 14.13% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.29% off 20-day moving average. It has market cap of $89473.84M and dividend yield of 3.37%.

Qualcomm Incorporated (NASDAQ:QCOM) released that Dave Wisehas decided to retire after a 23-year tenure at the Company. His departure is effective as of. As part of the transition plan, Qualcomm’s Board of Directors has unanimously approved the appointment of Akash Palkhiwala, SVP of Finance, as interim CFO while the Company seeks a permanent replacement.  Wise will remain in a consulting capacity.

On behalf of the Executive Team, I want to thank Dave for his long service to Qualcomm, and particularly for taking on the interim CFO role for the last five months. We all wish him well, said Steve Mollenkopf, CEO of Qualcomm Incorporated. I am confident that Akash Palkhiwala has the experience and deep understanding of our business to lead our finance function while we continue our efforts to identify a permanent CFO.

Palkhiwala is currently Senior Vice President and finance lead for QCT, with responsibility for finance and all chipset products and segments including Mobile, RF Front End, Compute, Auto, Connectivity and Networking and IoT.

Palkhiwala joined Qualcomm in 2001 and has previously held a variety of roles in Finance, including Treasurer and lead for Corporate Finance overseeing Qualcomm’s overall financial planning and analysis.  He has been part of the senior finance leadership team for more than 10 years. Palkhiwala holds a B.A. degree in Mechanical Engineering and an MBA from the University of Maryland.

The USA based company QUALCOMM Incorporated moved with change of -4.71% to $73.52 with the total traded volume of 15606724 shares in recent session versus to an average volume of 12362.9K. The stock was observed in the 5 days activity at 0.33%. The one month performance of stock was -2.43%. QCOM’s shares are at 11.04% for the quarter and driving a 9.99% return over the course of the past year and is now at 29.19% since this point in 2018.  Right now the stock beta is 1.61. The average volatility for the week and month was at 3.22% and 3.06% respectively. There are 1217M shares outstanding and 1214.52M shares are floated in market.

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