Analog Devices (ADI) reported fiscal Q1 adjusted earnings Wednesday of $1.63 per diluted share, down from $1.73 a year earlier.

Analysts polled by FactSet expected $1.54.

Revenue for the quarter ended Feb. 1 was $2.42 billion, compared with $2.51 billion a year earlier.

Analysts polled by FactSet expected $2.36 billion.

The company said it expects fiscal Q2 adjusted EPS of about $1.68. Analysts polled by FactSet expect $1.79. Revenue is estimated at about $2.50 billion. Analysts polled by FactSet expect $2.46 billion.

Analog Devices said its board approved an 8% increase in quarterly dividend to $0.99 per share, payable March 17 to shareholders as of March 4.

The company said it also increased its share buyback authorization by $10 billion, bringing its total repurchase capacity to about $11.5 billion.

Shares of Analog Devices were up over 5% in recent premarket activity Wednesday.