SAN DIEGO, CA – Qualcomm (NASDAQ:QCOM) Incorporated (NASDAQ:QCOM) disclosed in a recent SEC filing that Dr. James H. Thompson, the Chief Technology Officer (CTO) of Qualcomm Technologies, Inc., a subsidiary of the company, and an executive officer, has announced his intention to retire. The transition will take place on February 3, 2025, with Dr. Thompson moving to an advisory role within the company to support various projects.
The announcement, made on Tuesday, marks a significant change in the technology leadership of the telecommunications giant. Dr. Thompson's impending retirement sets the stage for Dr. Baaziz Achour, currently serving as Deputy CTO, to take over the reins. Qualcomm has appointed Dr. Achour as CTO-elect effective immediately, and he will assume full responsibilities as CTO upon Dr. Thompson's retirement.
Qualcomm, headquartered at 5775 Morehouse Drive, San Diego, California, is a leading player in the radio and TV broadcasting and communications equipment industry, as classified under the Standard Industrial Classification (SIC) code 3663. With a market capitalization of $175.7 billion and annual revenue of $39 billion, the company maintains strong financial health according to InvestingPro metrics. The company, incorporated in Delaware and with a fiscal year ending on September 29, operates in a sector known for rapid innovation and technological advancements.
Qualcomm's stock, with the trading symbol QCOM, is registered on The Nasdaq Stock Market LLC. Investors and stakeholders in the technology sector will be watching closely as the company navigates this leadership change, which is a normal part of corporate governance and succession planning.
As with all executive transitions, the effects on the company's strategy and operations will become clearer over time as the new CTO takes charge. Currently trading at a P/E ratio of 17.36, InvestingPro analysis suggests Qualcomm is undervalued relative to its Fair Value, with analysts setting price targets ranging from $160 to $270 per share. The company maintains a solid dividend yield of 2.13% and has consistently raised its dividend for 22 consecutive years.
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