diff --git a/hw/net/dp8393x.c b/hw/net/dp8393x.c
index 252c0a2664..11810c9b60 100644
--- a/hw/net/dp8393x.c
+++ b/hw/net/dp8393x.c
@@ -270,7 +270,7 @@ static void dp8393x_update_irq(dp8393xState *s)
 static void dp8393x_do_load_cam(dp8393xState *s)
 {
     int width, size;
-    uint16_t index = 0;
+    uint16_t index;
 
     width = (s->regs[SONIC_DCR] & SONIC_DCR_DW) ? 2 : 1;
     size = sizeof(uint16_t) * 4 * width;
@@ -279,6 +279,7 @@ static void dp8393x_do_load_cam(dp8393xState *s)
         /* Fill current entry */
         address_space_read(&s->as, dp8393x_cdp(s),
                            MEMTXATTRS_UNSPECIFIED, s->data, size);
+        index = dp8393x_get(s, width, 0) & 0xf;
         s->cam[index][0] = dp8393x_get(s, width, 1) & 0xff;
         s->cam[index][1] = dp8393x_get(s, width, 1) >> 8;
         s->cam[index][2] = dp8393x_get(s, width, 2) & 0xff;
@@ -291,7 +292,6 @@ static void dp8393x_do_load_cam(dp8393xState *s)
         /* Move to next entry */
         s->regs[SONIC_CDC]--;
         s->regs[SONIC_CDP] += size;
-        index++;
     }
 
     /* Read CAM enable */