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CD74AC05: Output of CD74AC05 is limited to 3V only

Part Number: CD74AC05
Other Parts Discussed in Thread: SN74LVC06A

I am using CD74AC05 for switching ON the opto isolator. Since CD74AC05 is open drain, I am using 390 Ohm as pullup with 5 V. Supply to CD74AC05 is given as 3.3 V. Normally for any open drain or open collector, output is equal to pullup voltage which 5 V in  this case irrespective of supply of IC. But here for low input voltage observed at output pin as 3 V which is causing sinking current from pullup and through 5 V. This result is switching on of opto LED and making it ON.

Is this behaviuor correct i.e. why CD74AC05 is giving 3 V at output pin for pull voltage of 5 V?