<PAGE>   1


                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549


                                    FORM 10-Q

[X]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
        EXCHANGE ACT OF 1934
        For the quarterly period ended July 2, 2000
                                       ------------

                                       OR

[ ]     TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
        SECURITIES EXCHANGE ACT OF 1934
        For the transition period from _________ to ___________

        Commission file number   1-10464
                                 -------

                        DALLAS SEMICONDUCTOR CORPORATION
              ----------------------------------------------------
             (Exact name of registrant as specified in its charter)


            DELAWARE                                      75-1935715
            --------                                      ----------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
 incorporation or organization)


              4401 SOUTH BELTWOOD PARKWAY, DALLAS, TEXAS 75244-3292
              -----------------------------------------------------
              (Address of principal executive offices)   (Zip Code)


       Registrant's telephone number, including area code: (972) 371-4000
                                                           --------------

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant was
required to file such reports), and (2) has been subject to such filing
requirements for the past 90 days.

                                                                 Yes [X]  No [ ]


Number of shares outstanding of the registrant's Common Stock as of August 7,
     2000: 60,421,457.
           -----------

<PAGE>   2


                        DALLAS SEMICONDUCTOR CORPORATION

                               INDEX TO FORM 10-Q



<TABLE>
<CAPTION>
PART I.  FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS                                           PAGE NO.
                                                                        --------
<S>                                                                     <C>
Condensed Consolidated Statements of Income (Unaudited)
  Three months and six months ended July 2, 2000
  and July 4, 1999 ....................................................   3

Condensed Consolidated Balance Sheets
  July 2, 2000 (Unaudited) and January 2, 2000 ........................   4

Condensed Consolidated Statements of Cash Flows (Unaudited)
  Six months ended July 2, 2000 and July 4, 1999 ......................   5

Notes to Condensed Consolidated Financial Statements ..................   6


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS .......................... 7-9


PART II. OTHER INFORMATION

ITEMS 1. THROUGH 3. ...................................................  10

ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS ..........  10

ITEM 5.  OTHER INFORMATION ............................................  10

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K .............................  10

SIGNATURE .............................................................  11

EXHIBIT 27.1 .......................................................... FDS
</TABLE>


                                       2
<PAGE>   3

PART I.     FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS



                        DALLAS SEMICONDUCTOR CORPORATION
                   CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                        Three months              Six months
                                                           Ended                     Ended
                                                   ---------------------     ---------------------
(In thousands, except                               July 2,      July 4,      July 2,      July 4,
  per share amounts)                                 2000         1999         2000         1999
---------------------                              --------     --------     --------     --------
<S>                                                <C>          <C>          <C>          <C>
Net sales                                          $129,768     $ 93,622     $247,370     $181,569

Operating costs and expenses:
 Cost of sales                                       61,596       45,221      118,228       87,622
 Research and development                            16,039       12,381       30,528       24,034
 Selling, general and administrative                 19,438       14,769       37,016       28,861
                                                   --------     --------     --------     --------

 Total costs and expenses                            97,073       72,371      185,772      140,517
                                                   --------     --------     --------     --------

Operating income                                     32,695       21,251       61,598       41,052

License fees, net                                       590          393        1,103        1,006
Interest income, net                                  2,857        1,637        5,497        3,287
                                                   --------     --------     --------     --------

Income before income taxes                           36,142       23,281       68,198       45,345
Provision for income taxes                           11,746        7,264       22,100       14,148
                                                   --------     --------     --------     --------

Net income                                         $ 24,396     $ 16,017     $ 46,098     $ 31,197
                                                   ========     ========     ========     ========


Net income per share, basic                        $   0.41     $   0.28     $   0.77     $   0.55
Net income per share, diluted                      $   0.38     $   0.26     $   0.72     $   0.51
                                                   --------     --------     --------     --------

Shares used to calculate net income per share:
   Basic                                             60,148       57,444       59,937       57,106
   Diluted                                           64,200       61,554       64,009       61,158
                                                   --------     --------     --------     --------

Dividends declared per share                       $ 0.0325     $  0.025     $  0.065     $   0.05
                                                   --------     --------     --------     --------
</TABLE>


See accompanying notes.


                                       3
<PAGE>   4

                        DALLAS SEMICONDUCTOR CORPORATION
                      CONDENSED CONSOLIDATED BALANCE SHEETS


<TABLE>
<CAPTION>
(In thousands, except share                      July 2,        Jan. 2,
  and per share amounts)                          2000           2000
---------------------------                     ---------      ---------
                                               (Unaudited)
<S>                                             <C>            <C>
Assets

Current assets:
 Cash and cash equivalents                      $  32,768      $  17,083
 Short-term investments                           211,527        175,320
 Accounts receivable, net                          82,669         54,188
 Inventories                                       76,124         75,518
 Deferred tax assets                               17,688         16,597
 Other current assets                              10,923          9,306
                                                ---------      ---------

Total current assets                              431,699        348,012

Property, plant and equipment, at cost:
 Land                                               8,775          8,775
 Building and improvements                         90,821         82,991
 Machinery and equipment                          412,771        375,999
                                                ---------      ---------
                                                  512,367        467,765
Less accumulated depreciation                    (285,981)      (257,549)
                                                ---------      ---------
   Property, plant and equipment, net             226,386        210,216

Other assets                                       11,153          7,032
                                                ---------      ---------
                                                $ 669,238      $ 565,260
                                                =========      =========

Liabilities and Stockholders' Equity

Current liabilities:
 Accounts payable                               $  50,206      $  29,064
 Accrued salaries and benefits                     17,375         16,215
 Accrued taxes other than income                    3,158          4,559
 Other accrued liabilities                         27,205         11,608
 Income taxes payable                              11,434          3,072
                                                ---------      ---------

 Total current liabilities                        109,378         64,518

Stockholders' equity:
 Preferred stock, $0.10 par value;
   5,000,000 shares authorized; no shares
   issued and outstanding                              --             --
 Common stock, $0.02 par value; 100,000,000
   shares authorized; issued:
   61,355,965 shares at July 2, 2000, and
   60,100,166 shares at January 2, 2000             1,227          1,210
 Additional paid-in capital                       183,813        160,466
 Retained earnings                                401,044        358,847
 Treasury stock, shares at cost:
   1,111,163 shares at July 2, 2000
   and 939,152 at January 2, 2000                 (26,224)       (19,781)
                                                ---------      ---------

 Total stockholders' equity                       559,860        500,742
                                                ---------      ---------
                                                $ 669,238      $ 565,260
                                                =========      =========
</TABLE>

See accompanying notes.


                                       4
<PAGE>   5


                        DALLAS SEMICONDUCTOR CORPORATION
                 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                           Six Months Ended
                                                        ------------------------
                                                         July 2,        July 4,
(In thousands)                                            2000           1999
--------------                                          ---------      ---------
<S>                                                     <C>            <C>
Cash flows from operating activities:
Net income                                              $  46,098      $  31,197
Adjustments to reconcile net income to net
 cash provided by operating activities:
   Tax benefit of stock option exercises                  (11,575)        (7,761)
   Depreciation                                            28,432         24,346
   Net change in working capital accounts                  36,215          9,395
                                                        ---------      ---------

Net cash provided by operating activities                  99,170         57,177
                                                        ---------      ---------

Cash flows from investing activities:
 Purchases of short-term investments                      (78,516)       (33,657)
 Sales and maturities of short-term investments            42,309         15,922
 Additions to property, plant and equipment               (44,602)       (24,751)
 Increase in other assets                                  (4,121)        (1,343)
                                                        ---------      ---------

Net cash used in investing activities                     (84,930)       (43,829)
                                                        ---------      ---------

Cash flows from financing activities:
 Proceeds from issuance of stock
  upon exercise of stock options                           11,789          6,111
 Purchase of treasury stock                                (6,443)        (7,588)
 Dividends paid to shareholders                            (3,901)        (2,863)
                                                        ---------      ---------

Net cash provided by (used in) financing activities         1,445         (4,340)
                                                        ---------      ---------

Net change in cash and cash equivalents                    15,685          9,008

Cash and cash equivalents at beginning of period           17,083          4,216
                                                        ---------      ---------

Cash and cash equivalents at end of period                 32,768         13,224
Short-term investments at end of period                   211,527        141,515
                                                        ---------      ---------

Cash and short-term investments at end of period        $ 244,295      $ 154,739
                                                        =========      =========



Cash payments for income taxes                          $   3,256      $  10,683
</TABLE>


See accompanying notes.


                                       5
<PAGE>   6

                        DALLAS SEMICONDUCTOR CORPORATION
              NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)

1.  INTERIM ACCOUNTING POLICY

The accompanying condensed consolidated financial statements have not been
audited by independent auditors, except for the balance sheet as of January 2,
2000. Certain reclassifications have been made to prior period balances to
conform with the current period presentation. In the opinion of the Company's
management, the accompanying financial statements reflect all adjustments
(consisting only of normal recurring accruals) necessary to present fairly the
Company's financial position at July 2, 2000 and January 2, 2000, and results of
operations and cash flows for the periods presented.

Certain footnote information has been condensed or omitted from these financial
statements. Therefore, these financial statements should be read in conjunction
with the financial statements and related notes included in the Company's Annual
Report on Form 10-K for the year ended January 2, 2000. Results of operations
for the three and six month periods ended July 2, 2000 are not necessarily
indicative of results to be expected for the full year.

2.  LICENSE FEES

Revenue from the licensing of the Company's intellectual property is recognized
as contractual obligations are met and revenue is earned.

3.  SHORT-TERM INVESTMENTS

The Company considers all liquid interest-earning investments with a maturity of
three months or less at the date of purchase to be cash equivalents. Short-term
investments generally mature between three months and five years from the
purchase date. Short-term investments consist of corporate notes, municipal
bonds, commercial paper and money market funds. Such investments are carried at
amounts that approximate their fair market value based on quoted market prices.

4.  INVENTORIES (In thousands)

<TABLE>
<CAPTION>
                    July 2,     Jan. 2,
                     2000        2000
                    -------     -------
<S>                 <C>         <C>
Raw materials       $12,493     $ 8,760
Work-in-process      52,497      54,065
Finished goods       11,134      12,693
                    -------     -------
                    $76,124     $75,518
                    =======     =======
</TABLE>

Inventories are stated at the lower of standard cost, which approximates actual
cost (first-in, first-out), or market.


                                       6
<PAGE>   7

                        DALLAS SEMICONDUCTOR CORPORATION


ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS

This report contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. Actual results could differ materially from those projected in the
forward-looking statements as a result of the factors set forth elsewhere in
this report. Although the Company believes that the expectations reflected in
such forward-looking statements are based on reasonable assumptions, there can
be no assurance that such expectations will be achieved.


RESULTS OF OPERATIONS

Net sales for the second quarter of 2000 were $129,768,000, an increase of 39%
over the second quarter of 1999. The Company's revenue by product group is shown
in the table below.

Product Group Information
(In millions)

<TABLE>
<CAPTION>
                                                                                        Change
                                   Q299       Q399       Q499       Q100       Q200    Q200-Q299
                                  ------     ------     ------     ------     ------   ---------
<S>                               <C>        <C>        <C>        <C>        <C>      <C>
Communications                    $ 14.7     $ 17.3     $ 23.0     $ 25.1     $ 28.1      91%
1-Wire & Network Computing          21.4       23.0       24.5       21.9       20.6      (4)%
Mixed Signal                        57.5       60.9       60.0       70.6       81.1      41%
                                  ------     ------     ------     ------     ------     ---
Net Sales                         $ 93.6     $101.2     $107.5     $117.6     $129.8      39%
                                  ------     ------     ------     ------     ------     ---

Orders                            $ 96.6     $114.4     $115.0     $152.4     $177.7      84%
                                  ------     ------     ------     ------     ------     ---

90 day Order Backlog              $ 44.7     $ 51.9     $ 59.3     $ 69.7     $ 94.9     112%
                                  ------     ------     ------     ------     ------     ---
</TABLE>

The Company's backlog at any particular date may not be representative of actual
sales for any succeeding period because lead times for the release of purchase
orders depend upon the scheduling practices of individual customers, the
delivery times can be affected by scheduling factors and other manufacturing
considerations, the rate of booking new orders can vary significantly from month
to month, and the possibility of customer changes in delivery schedules or
cancellations of orders.

Gross margins increased for the first six months of 2000 to 52.2% from 51.7%
during the same period in 1999. Gross margins increased in the second quarter of
2000 to 52.5% from 51.7% in the second quarter of 1999. Gross margins increased
primarily due to efficiencies resulting from higher production volumes.

Research and development ("R&D") expenses for the second quarter of 2000
increased 30% from the second quarter of 1999 due primarily to higher personnel
costs. R&D expenses for the first six months of 2000 increased 27%, as compared
to the same period in 1999. R&D expenses as a percent of sales decreased to
12.4% from 13.2% for the second quarter of 2000 and 1999, respectively. R&D
expenses as a percent of net sales decreased to 12.3% for the first six months
of 2000 from 13.2% during the same period in 1999.



                                       7
<PAGE>   8

                        DALLAS SEMICONDUCTOR CORPORATION


RESULTS OF OPERATIONS (CONTINUED)

Selling, general, and administrative ("SG&A") expenses increased 32% for the
second quarter of 2000 and 28% for the first six months of 2000 as compared to
the same periods in 1999. The increase was due primarily to higher personnel
costs. SG&A expenses as a percent of net sales was 15.0% for the three and six
month periods ended July 2, 2000 as compared to 15.8% and 15.9% respectively,
for the same periods ended July 4, 1999.

Operating income increased 54% and 50% for the second quarter of 2000 and the
first six months of 2000 over the same periods in 1999, respectively. Increased
sales and gross margins, partially offset by higher operating expenses, produced
higher operating income in both periods. Operating income as a percent of sales
was 24.6% and 24.9% for the three and six month periods ended July 2, 2000 as
compared to 23.1% and 22.6% respectively, for the same periods ended July 4,
1999.

Net license fees, previously reported as a component of net sales, were
reclassified for all periods presented as a separate line item on the income
statement. Net license fees, were $590,000 and $1,103,000 for the first three
and six months of 2000 as compared to $393,000 and $1,006,000 for the first
three and six months of 1999. License fees are a direct result of successful and
ongoing efforts to license the Company's battery charger patents to third
parties. The amount and timing of future income from licensing agreements cannot
be precisely forecast.

Net interest income for the second quarter of 2000 increased by $1,220,000 or
75% over the second quarter of 1999. Net interest income increased by $2,210,000
or 67% for the first six months of 2000 over the same period in 1999. The
increase in net interest income is due primarily to gains on the sales of
investments, higher average cash balances and an increase in the ratio of
taxable to tax exempt investments. Changes in interest rates will continue to
affect net interest income as well as any substantial change in the Company's
cash and short term investments.

The Company's effective tax rate was 32.5% in the second quarter and 32.4% for
first six months of 2000 as compared to 31.2% for the same periods in 1999. This
increase was primarily due to a decline in tax exempt interest income.

A number of uncertainties exist that may influence the Company's future
operating results, including general economic conditions, changes in conditions
affecting original equipment manufacturers, competition, alternative
technologies, the Company's success in developing new products and process
technologies, accelerated declines in the average selling price of the Company's
existing products, changes in customer order patterns, market acceptance of the
Company's new products, distributor and sales representative performance, the
ability of the Company to continue diversifying its product line, accelerated
growth of inventory leading to excess inventory and salability and/or
obsolescence write-downs, excess production capacity, manufacturing performance,
subcontractor performance, availability and price fluctuations of raw materials,
and other factors. Any of these uncertainties could cause a severe near-term
impact on the Company's order growth, net sales growth, or results of
operations.


                                       8
<PAGE>   9
                        DALLAS SEMICONDUCTOR CORPORATION


FINANCIAL CONDITION

Cash and short-term investments were $244.3 million at the end of the second
quarter of 2000, compared with $192.4 million at the end of fiscal year 1999.
The increase in cash and short-term investments was primarily the result of net
cash provided by operations during the first six months of 2000 of $99.2 million
being offset by investments in property, plant and equipment of $44.6 million.
The Company continues to invest in financial instruments having maturities in
excess of one year in order to obtain yields higher than those available in the
short-term market.

Capital additions were $30.0 million in the second quarter of 2000, compared to
$11.4 million for the same period of 1999. Capital expenditures for the second
quarter of 2000 related primarily to wafer fabrication and test equipment. Total
capital expenditures for 2000 are estimated to be approximately $125 million and
will be used primarily for wafer fabrication, manufacturing and test equipment.
Included in estimated capital expenditures for fiscal 2000 is approximately $25
million relating to the structural expansion of the Company's wafer fabrication
facility. This structural expansion, expected to be completed in March 2001 for
a total cost of approximately $40 million, will create additional clean room
space and related support areas needed for higher production levels. Depending
on wafer process complexity, the new space when fully equipped will expand the
Company's wafer production capacity by approximately 40 percent.

As amended in 1998, the Board of Directors authorized the purchase from
time-to-time, depending on market conditions, of up to 2,000,000 shares of the
Company's common stock. As of July 2, 2000, a total of 1,359,913 shares,
totaling $28,051,590 have been purchased under this stock repurchase program and
recorded using the cost method.

A cash dividend of $0.0325 on each outstanding share of common stock, was paid
on June 1, 2000, to shareholders of record on May 15, 2000.


                                       9
<PAGE>   10

                        DALLAS SEMICONDUCTOR CORPORATION


PART II. OTHER INFORMATION

ITEMS 1.- 3.

  Not applicable.


ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

(a)                The Company's annual meeting of stockholders was held on
                   April 25, 2000.

(b) (c) (d)        The following items were presented to the stockholders with
                   the following results.

<TABLE>
<CAPTION>
         Election of Directors:                                    Votes
                                               Votes For         Withheld
                                              ----------         --------
<S>                                           <C>                <C>
         C.V. Prothro                         55,053,517          428,236
         Chao C. Mai                          55,052,911          428,842
         Michael L. Bolan                     55,043,241          438,512
         Richard L. King                      55,305,631          176,122
         M.D. Sampels                         55,297,111          184,642
         Carmelo J. Santoro                   55,301,311          180,442
</TABLE>

<TABLE>
<CAPTION>
                                              Votes                   Broker
                                Votes For    Against  Abstentions    Non-Votes
                                ----------   -------  -----------    ---------
<S>                             <C>          <C>      <C>            <C>
Approval of the
Employee Stock Purchase
Plan                            54,420,391   657,188     403,173       1,001
</TABLE>


<TABLE>
<CAPTION>
                                                 Votes                        Broker
                               Votes For        Against     Abstentions      Non-Votes
                               ----------     ----------    -----------      ---------
<S>                            <C>            <C>           <C>              <C>
Approval of the 1993
Officer and Director Stock
Option Plan, as Amended        33,085,109     21,965,151        429,952          1,541
</TABLE>


ITEM 5.  OTHER INFORMATION

  Not applicable.


ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

  (a)         Exhibit 27.1 - Financial Data Schedule

  (b)         Reports on Form 8-K

                  No Reports on Form 8-K were filed during the period for which
                  this report is filed.


                                       10
<PAGE>   11


                        DALLAS SEMICONDUCTOR CORPORATION



                                    SIGNATURE




Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

DALLAS SEMICONDUCTOR CORPORATION


By:       /s/ Alan P. Hale
          ----------------
          Alan P. Hale
          Vice President, Finance and Chief Financial Officer

Date:     August 15, 2000
          -----------------



                                       11
<PAGE>   12

                               INDEX TO EXHIBITS

<TABLE>
<CAPTION>
  EXHIBIT
  NUMBER                      DESCRIPTION
  -------                     -----------
<S>                           <C>
   27.1                       Financial Data Schedule
</TABLE>