DOW JONES NEWSWIRES 
 

Altera Corp. (ALTR) boosted its third-quarter revenue target as the logic-chip maker noted improved sales.

Still, shares were down 2.4% to $19.85 in after-hours trading.

The company said all market segments, except for the telecom and wireless space, will be sequentially up. It said in those segments, the declines have been more moderate than previously estimated due to better than expected demand in Asia.

As a result, Altera expects third-quarter sales to be flat to up 3% from the second quarter's $279.2 million. Its prior target was a sales drop of 1% to 5% sequentially.

Altera also raised its operating-expenses target for the quarter to $126 million to $128 million from $122 million to $126 million on previously disclosed severance costs.

Altera designs chips that customers can program for use in such products as Internet routers, mobile-phone base stations, flat-panel televisions and DVD players.

-By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com