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MILPITAS, Calif. & HERZLIYA, Israel – SolarEdge Technologies, Inc. (NASDAQ:SEDG), a company recognized for its smart energy technology, announced the immediate appointment of Asaf Alperovitz as its new Chief Financial Officer. The transition comes as Ariel Porat, the previous CFO, decided to step down for personal reasons. Porat will stay on for a transitional period to ensure a seamless handover.
Alperovitz’s career spans over 30 years, with a background that includes serving as CFO of Delta Galil from 2019 to 2024, a global high-tech apparel firm. His experience extends to executive roles at various public companies and senior management positions at Ernst & Young. Alperovitz has been instrumental in leading initial public offerings, secondary offerings, mergers and acquisitions, and strategic transformations. He holds both a BA in Accounting & Economics and an MBA from Tel-Aviv University.
Shuki Nir, CEO of SolarEdge, expressed enthusiasm for Alperovitz’s appointment, citing his seasoned expertise and track record in finance. Nir is confident that Alperovitz’s experience will greatly contribute to SolarEdge’s future, particularly in organizational transformation and financial strategy. The CEO also extended gratitude to Porat for his service to the company.
Alperovitz himself remarked on the honor of joining SolarEdge during a critical phase of the company’s development. He is eager to work with the team to further the company’s mission and enhance its financial performance.
SolarEdge is known for its innovations in smart energy solutions, including an intelligent inverter system that optimizes power generation in photovoltaic systems. The company continues to expand its reach in the energy market, offering products and services in photovoltaics, storage, electric vehicle charging, batteries, and grid services. Despite recent challenges, the company maintains a healthy current ratio of 1.95, indicating its ability to meet short-term obligations. For deeper insights into SolarEdge’s financial health and growth potential, investors can access comprehensive analysis and additional ProTips through InvestingPro’s detailed research reports.
This announcement is based on a press release statement and contains forward-looking statements regarding management transitions and future operations. These statements are subject to risks and uncertainties, and actual results may differ materially. The company advises caution in placing undue reliance on these forward-looking statements.
In other recent news, SolarEdge Technologies announced that its solar inverter portfolio now complies with the Build America, Buy America (BABA) Act, which allows the company to participate in U.S. federal infrastructure projects. This compliance covers a range of inverters and power optimizers, supporting project developers and engineering firms in meeting federal mandates. Meanwhile, Jefferies has increased its price target for SolarEdge to $12 from $9, maintaining an Underperform rating, citing concerns about the company’s recovery trajectory despite acknowledging potential sell-through of $400 million per quarter by late 2025.
Mizuho (NYSE:MFG) Securities also adjusted its outlook, raising the price target to $15 from $12, while keeping a Neutral stance, due to higher margin expectations and potential benefits from safe harbor revenues. Conversely, Northland downgraded SolarEdge’s stock rating to Underperform, setting a $15 price target, following a marginally positive cash flow report and ongoing cost-cutting measures. Canaccord Genuity raised the price target to $19 from $18, maintaining a Hold rating, while noting challenges in the European market and potential improvements in the U.S. market.
These developments reflect a complex landscape for SolarEdge as it navigates regulatory compliance, strategic adjustments, and competitive pressures.
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