UPDATE 1-Chip maker Xilinx beats Street, shares rise

* Q2 EPS 23 cents versus Street View 22 cents

* Q2 revenue $414.95 mln vs Street view $410.21 mln

* Sees Q3 sales up 6 pct to 10 pct sequentially

* Shares rise 1.3 percent

SAN FRANCISCO, Oct 14 (Reuters) - Specialized chip maker Xilinx Inc (XLNX.O) reported higher-than-expected quarterly results and forecast revenue for the current quarter ahead of Wall Street targets, and its shares rose 1.3 percent.

The company said on Wednesday that net income in its fiscal second quarter ended Sept. 26 fell to $64.04 million or 23 cents per share, from $81.06 million, or 29 cents per share, a year earlier.

That result exceeded the 22 cent per-share profit expected on average by analysts, according to Thomson Reuters I/B/E/S.

Revenue fell 14.2 percent to $414.95 million from $483.54 million a year ago, but surpassed the $410.21 million expected by analysts polled by Thomson Reuters I/B/E/S.

Xilinx forecast third quarter sales up 6 percent to 10 percent sequentially, and said fourth quarter gross margins should be between 62 percent and 63 percent. Analysts polled by Thomson Reuters I/B/E/S are, on average, expecting a fiscal third-quarter revenue of $422.45 million and a gross margin of 62 percent.

Shares of the San Jose, California-based company rose to $24.30 in after-hours trading after closing at $24 in regular-session trade on the Nasdaq. (Reporting by Ian Sherr; editing by Carol Bishopric)