diff --git a/drivers/net/ethernet/microchip/encx24j600-regmap.c b/drivers/net/ethernet/microchip/encx24j600-regmap.c
index 2e337c7a5773..5693784eec5b 100644
--- a/drivers/net/ethernet/microchip/encx24j600-regmap.c
+++ b/drivers/net/ethernet/microchip/encx24j600-regmap.c
@@ -359,7 +359,7 @@ static int regmap_encx24j600_phy_reg_read(void *context, unsigned int reg,
 		goto err_out;
 
 	usleep_range(26, 100);
-	while (((ret = regmap_read(ctx->regmap, MISTAT, &mistat)) != 0) &&
+	while (((ret = regmap_read(ctx->regmap, MISTAT, &mistat)) == 0) &&
 	       (mistat & BUSY))
 		cpu_relax();
 
@@ -397,7 +397,7 @@ static int regmap_encx24j600_phy_reg_write(void *context, unsigned int reg,
 		goto err_out;
 
 	usleep_range(26, 100);
-	while (((ret = regmap_read(ctx->regmap, MISTAT, &mistat)) != 0) &&
+	while (((ret = regmap_read(ctx->regmap, MISTAT, &mistat)) == 0) &&
 	       (mistat & BUSY))
 		cpu_relax();