diff --git a/rpcs3/Emu/Cell/PPUThread.cpp b/rpcs3/Emu/Cell/PPUThread.cpp
index 3de988ecf8..1ba1f0d673 100644
--- a/rpcs3/Emu/Cell/PPUThread.cpp
+++ b/rpcs3/Emu/Cell/PPUThread.cpp
@@ -591,7 +591,13 @@ std::vector<std::pair<u32, u32>> ppu_thread::dump_callstack_list() const
 
 		auto is_invalid = [](u64 addr)
 		{
-			return (addr > UINT32_MAX || addr % 4 || !vm::check_addr(static_cast<u32>(addr), 1, vm::page_executable));
+			if (addr > UINT32_MAX || addr % 4 || !vm::check_addr(static_cast<u32>(addr), 1, vm::page_executable))
+			{
+				return true;
+			}
+
+			// Ignore HLE stop address
+			return addr == ppu_function_manager::addr + 8;
 		};
 
 		if (is_invalid(addr))
diff --git a/rpcs3/Emu/Cell/SPUThread.cpp b/rpcs3/Emu/Cell/SPUThread.cpp
index 84ad06c519..fb344d1399 100644
--- a/rpcs3/Emu/Cell/SPUThread.cpp
+++ b/rpcs3/Emu/Cell/SPUThread.cpp
@@ -1269,17 +1269,19 @@ std::vector<std::pair<u32, u32>> spu_thread::dump_callstack_list() const
 	{
 		v128 lr = _ref<v128>(sp + 16);
 
-		auto is_invalid = [](v128 v)
+		auto is_invalid = [this](v128 v)
 		{
-			const u32 addr = v._u32[3];
+			const u32 addr = v._u32[3] & 0x3FFFC;
 
 			if (v != v128::from32r(addr))
 			{
-				// Non-zero lower words are invalid (because BRSL-like instructions generate only zeroes)
+				// 1) Non-zero lower words are invalid (because BRSL-like instructions generate only zeroes)
+				// 2) Bits normally masked out by indirect braches are considered invalid
 				return true;
 			}
 
-			return !!(addr & ~0x3FFFC);
+			const u32 op = _ref<u32>(addr);
+			return s_spu_itype.decode(op) == spu_itype::UNK || !op;
 		};
 
 		if (is_invalid(lr))
diff --git a/rpcs3/rpcs3qt/call_stack_list.cpp b/rpcs3/rpcs3qt/call_stack_list.cpp
index 567198ecdd..379e1fe71c 100644
--- a/rpcs3/rpcs3qt/call_stack_list.cpp
+++ b/rpcs3/rpcs3qt/call_stack_list.cpp
@@ -23,7 +23,7 @@ void call_stack_list::HandleUpdate(std::vector<std::pair<u32, u32>> call_stack)
 
 	for (const auto& addr : call_stack)
 	{
-		const QString call_stack_item_text = qstr(fmt::format("0x%08llx (r1=0x%08llx)", addr.first, addr.second));
+		const QString call_stack_item_text = qstr(fmt::format("0x%08llx (sp=0x%08llx)", addr.first, addr.second));
 		QListWidgetItem* callStackItem = new QListWidgetItem(call_stack_item_text);
 		callStackItem->setData(Qt::UserRole, { addr.first });
 		addItem(callStackItem);