diff --git a/llvm/lib/Target/AMDGPU/AMDGPUPerfHintAnalysis.cpp b/llvm/lib/Target/AMDGPU/AMDGPUPerfHintAnalysis.cpp
--- a/llvm/lib/Target/AMDGPU/AMDGPUPerfHintAnalysis.cpp
+++ b/llvm/lib/Target/AMDGPU/AMDGPUPerfHintAnalysis.cpp
@@ -224,6 +224,9 @@
     LastAccess = MemAccessInfo();
     unsigned UsedGlobalLoadsInBB = 0;
     for (auto &I : B) {
+      // skip bitcast for cost calculation
+      if (isa<BitCastInst>(I))
+        continue;
       if (const Type *Ty = getMemoryInstrPtrAndType(&I).second) {
         unsigned Size = divideCeil(Ty->getPrimitiveSizeInBits(), 32);
         // TODO: Check if the global load and its user are close to each other
diff --git a/llvm/test/CodeGen/AMDGPU/perfhint-instr-cost.ll b/llvm/test/CodeGen/AMDGPU/perfhint-instr-cost.ll
new file mode 100644
--- /dev/null
+++ b/llvm/test/CodeGen/AMDGPU/perfhint-instr-cost.ll
@@ -0,0 +1,12 @@
+; RUN: llc -march=amdgcn -debug-only=amdgpu-perf-hint < %s 2>&1 | FileCheck %s
+define i32 @perfHintInstrCost(ptr addrspace(4) %p1, ptr addrspace(4) %p2, ptr addrspace(4) %p3) #0 {
+; CHECK-LABEL: perfHintInstrCost
+; CHECK: MemInst cost: 3
+; CHECK: TotalInst cost: 6
+  %x = load volatile i32, ptr addrspace(4) %p1, align 4
+  %y = load volatile i32, ptr addrspace(4) %p2, align 4
+  %z = load volatile i32, ptr addrspace(4) %p3, align 4
+  %sum = add i32 %x, %y
+  %sum2 = add i32 %sum, %z
+  ret i32 %sum2
+}
diff --git a/llvm/test/CodeGen/AMDGPU/perfhint.ll b/llvm/test/CodeGen/AMDGPU/perfhint.ll
--- a/llvm/test/CodeGen/AMDGPU/perfhint.ll
+++ b/llvm/test/CodeGen/AMDGPU/perfhint.ll
@@ -1,4 +1,5 @@
 ; RUN: llc -march=amdgcn < %s | FileCheck -check-prefix=GCN %s
+; RUN: llc -march=amdgcn -opaque-pointers=1 < %s | FileCheck -check-prefix=GCN %s
 
 ; GCN-LABEL: {{^}}test_membound:
 ; GCN: MemoryBound: 1
@@ -21,6 +22,7 @@
 
 ; GCN-LABEL: {{^}}test_membound_1:
 ; GCN: MemoryBound: 1
+; GCN: WaveLimiterHint : 1
 define amdgpu_kernel void @test_membound_1(<2 x double> addrspace(1)* nocapture readonly %ptr.0,
                                            <2 x double> addrspace(1)* nocapture %ptr.1,
                                            <2 x double> %arg.0, i32 %arg.1, <4 x double> %arg.2) {
@@ -112,7 +114,7 @@
 }
 
 ; GCN-LABEL: {{^}}test_indirect:
-; GCN: MemoryBound: 0
+; GCN: MemoryBound: 1
 ; GCN: WaveLimiterHint : 1
 define amdgpu_kernel void @test_indirect(i32 addrspace(1)* nocapture %arg) {
 bb: