5%+ tech decliners: MU, LQDT, PRCP, LLNW, ELLI, MXWL, CSLT, MX, TREE, CRTO

• Plenty of high-beta tech names are getting clobbered as the Nasdaq posts a 3% drop amid a broad market selloff.
• Firms down over 5% include memory giant Micron (MU -5.6%), salvage auction site Liquidity Services (LQDT -10.5%), industrial measurement toolmaker Perceptron (PRCP -12.1%), cloud healthcare software provider Castlight (CSLT -5.4%), CDN owner Limelight (LLNW -8.6%), mortgage origination software firm Ellie Mae (ELLI -6.1%), ultracapacitor maker Maxwell (MXWL -8.5%), Korean analog/mixed-signal chipmaker MagnaChip (MX -9.3%), online loan marketplace LendingTree (TREE -7.9%), and online ad retargeting firm Criteo (CRTO -5.9%).
• Micron's decline comes ahead of its Thursday FQ4 report. Nomura predicted today FQ4 results will miss consensus, and that FQ1 will also be weak. "While an estimate cut is well understood, we believe Micron’s stock will continue to track DRAM/NAND pricing, which is trending lower into the peak of the build season.” Cowen, on the other hand, argued FQ4 will be the bottom, and stated checks point to Samsung "pulling back meaningfully on capex."
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