diff --git a/src/evdev-mt-touchpad.c b/src/evdev-mt-touchpad.c
index ae5fb07c..c22293c1 100644
--- a/src/evdev-mt-touchpad.c
+++ b/src/evdev-mt-touchpad.c
@@ -98,6 +98,9 @@ tp_calculate_motion_speed(struct tp_dispatch *tp, struct tp_touch *t)
 	if (!tp->has_mt || tp->semi_mt)
 		return;
 
+	if (t->state != TOUCH_UPDATE)
+		return;
+
 	/* This doesn't kick in until we have at least 4 events in the
 	 * motion history. As a side-effect, this automatically handles the
 	 * 2fg scroll where a finger is down and moving fast before the
@@ -332,6 +335,7 @@ tp_begin_touch(struct tp_dispatch *tp, struct tp_touch *t, uint64_t time)
 	t->thumb.first_touch_time = time;
 	t->tap.is_thumb = false;
 	t->tap.is_palm = false;
+	t->speed.exceeded_count = 0;
 	assert(tp->nfingers_down >= 1);
 	tp->hysteresis.last_motion_time = time;
 }
@@ -409,6 +413,7 @@ tp_end_touch(struct tp_dispatch *tp, struct tp_touch *t, uint64_t time)
 	t->pinned.is_pinned = false;
 	t->time = time;
 	t->palm.time = 0;
+	t->speed.exceeded_count = 0;
 	tp->queued |= TOUCHPAD_EVENT_MOTION;
 }
 
diff --git a/test/test-touchpad.c b/test/test-touchpad.c
index e4667a80..00794dbc 100644
--- a/test/test-touchpad.c
+++ b/test/test-touchpad.c
@@ -6274,6 +6274,42 @@ START_TEST(touchpad_speed_ignore_finger_edgescroll)
 }
 END_TEST
 
+START_TEST(touchpad_speed_ignore_hovering_finger)
+{
+	struct litest_device *dev = litest_current_device();
+	struct libinput *li = dev->libinput;
+	struct axis_replacement axes[] = {
+		{ ABS_MT_TOUCH_MAJOR, 1 },
+		{ ABS_MT_TOUCH_MINOR, 1 },
+		{ -1, 0 }
+	};
+
+	litest_drain_events(li);
+
+	/* first finger down but below touch size. we use slot 2 because
+	 * it's easier this way for litest */
+	litest_touch_down_extended(dev, 2, 20, 20, axes);
+	litest_touch_move_to_extended(dev, 2, 20, 20, 60, 80, axes, 20);
+	litest_drain_events(li);
+
+	/* second, third finger down withn same frame */
+	litest_push_event_frame(dev);
+	litest_touch_down(dev, 0, 59, 70);
+	litest_touch_down(dev, 1, 65, 70);
+	litest_pop_event_frame(dev);
+
+	litest_touch_move_two_touches(dev, 59, 70, 65, 70, 0, 30, 10);
+	libinput_dispatch(li);
+
+	litest_touch_up(dev, 2);
+	libinput_dispatch(li);
+	litest_touch_up(dev, 1);
+	litest_touch_up(dev, 0);
+
+	litest_assert_only_typed_events(li, LIBINPUT_EVENT_POINTER_AXIS);
+}
+END_TEST
+
 enum suspend {
 	SUSPEND_EXT_MOUSE = 1,
 	SUSPEND_SENDEVENTS,
@@ -6778,6 +6814,7 @@ TEST_COLLECTION(touchpad)
 	litest_add("touchpad:speed", touchpad_speed_ignore_finger, LITEST_TOUCHPAD, LITEST_SINGLE_TOUCH|LITEST_SEMI_MT);
 	litest_add("touchpad:speed", touchpad_speed_allow_nearby_finger, LITEST_TOUCHPAD, LITEST_SINGLE_TOUCH|LITEST_SEMI_MT);
 	litest_add("touchpad:speed", touchpad_speed_ignore_finger_edgescroll, LITEST_TOUCHPAD, LITEST_SINGLE_TOUCH|LITEST_SEMI_MT);
+	litest_add_for_device("touchpad:speed", touchpad_speed_ignore_hovering_finger, LITEST_BCM5974);
 
 	litest_add_ranged("touchpad:suspend", touchpad_suspend_abba, LITEST_TOUCHPAD, LITEST_ANY, &suspends);
 	litest_add_ranged("touchpad:suspend", touchpad_suspend_abab, LITEST_TOUCHPAD, LITEST_ANY, &suspends);