Analog Devices, Inc. (NASDAQ: ADI) reported its fiscal third quarter financial results after the markets closed on Tuesday. The company had $0.77 in earnings per share (EPS) on $863 million in revenue compared to Thomson Reuters consensus estimates that called for $0.74 in EPS on $845.43 million in revenue. The same period from the previous year had $0.63 in EPS on $727.75 million in revenue.

Revenue in this quarter increased 5% sequentially and 19% year over year. Gross margin was 66.1% and operating margin was 34.2%.

The company gave guidance for the fiscal fourth quarter as EPS in the range of $0.79 to $0.87 and revenue in the range of $880 million to $940 million. There are consensus estimates of $0.79 in EPS on $879.33 million in revenue.

Analog Devices also announced that its board of directors declared a cash dividend of $0.40 per outstanding share of common stock. The dividend will be paid on September 9, to all shareholders of record at the close of business on August 28.

Vincent Roche, President and CEO of Analog Devices, commented on earnings:

We had a very strong third quarter, with revenue growing to a record $863 million and earnings at the very high end of expectations. Once again this quarter, our focus on sustainable innovation that bridges the physical and digital worlds across diverse applications and markets, coupled with strong execution throughout the Company, delivered solid growth and profits.

On the books, the company had $3.10 billion in cash and short term investments at the end of the quarter compared to $4.93 billion at the end of the fiscal third quarter of the previous year.

So far in 2015 Analog Devices’ shares have outperformed the market; the stock is up 8.5% year to date and up 19.4% over the last 52-weeks.

Shares of Analog Devices closed Tuesday down 2.7% at $57.89 on its 52-week trading range of $42.57 to $68.97. Following the release of the earnings report shares were initially up 6.4% at $61.60 in the after-hours trading session. The stock has a consensus analyst price target of $66.81.

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