diff --git a/llvm/lib/Transforms/InstCombine/InstCombineShifts.cpp b/llvm/lib/Transforms/InstCombine/InstCombineShifts.cpp
index 550f095b26ba4..b0b1301cd2580 100644
--- a/llvm/lib/Transforms/InstCombine/InstCombineShifts.cpp
+++ b/llvm/lib/Transforms/InstCombine/InstCombineShifts.cpp
@@ -978,6 +978,47 @@ Instruction *InstCombinerImpl::foldLShrOverflowBit(BinaryOperator &I) {
   return new ZExtInst(Overflow, Ty);
 }
 
+/// If the operand of a zext-ed left shift \p V is a logically right-shifted
+/// value, try to fold the opposing shifts.
+static Instruction *foldShrThroughZExtedShl(Type *DestTy, Value *V,
+                                            unsigned ShlAmt,
+                                            InstCombinerImpl &IC,
+                                            const DataLayout &DL) {
+  auto *I = dyn_cast<Instruction>(V);
+  if (!I)
+    return nullptr;
+
+  // Dig through operations until the first shift.
+  while (!I->isShift())
+    if (!match(I, m_BinOp(m_OneUse(m_Instruction(I)), m_Constant())))
+      return nullptr;
+
+  // Fold only if the inner shift is a logical right-shift.
+  uint64_t InnerShrAmt;
+  if (!match(I, m_LShr(m_Value(), m_ConstantInt(InnerShrAmt))))
+    return nullptr;
+
+  if (InnerShrAmt >= ShlAmt) {
+    const uint64_t ReducedShrAmt = InnerShrAmt - ShlAmt;
+    if (!canEvaluateShifted(V, ReducedShrAmt, /*IsLeftShift=*/false, IC,
+                            nullptr))
+      return nullptr;
+    Value *NewInner =
+        getShiftedValue(V, ReducedShrAmt, /*isLeftShift=*/false, IC, DL);
+    return new ZExtInst(NewInner, DestTy);
+  }
+
+  if (!canEvaluateShifted(V, InnerShrAmt, /*IsLeftShift=*/true, IC, nullptr))
+    return nullptr;
+
+  const uint64_t ReducedShlAmt = ShlAmt - InnerShrAmt;
+  Value *NewInner =
+      getShiftedValue(V, InnerShrAmt, /*isLeftShift=*/true, IC, DL);
+  Value *NewZExt = IC.Builder.CreateZExt(NewInner, DestTy);
+  return BinaryOperator::CreateShl(NewZExt,
+                                   ConstantInt::get(DestTy, ReducedShlAmt));
+}
+
 // Try to set nuw/nsw flags on shl or exact flag on lshr/ashr using knownbits.
 static bool setShiftFlags(BinaryOperator &I, const SimplifyQuery &Q) {
   assert(I.isShift() && "Expected a shift as input");
@@ -1062,14 +1103,18 @@ Instruction *InstCombinerImpl::visitShl(BinaryOperator &I) {
   if (match(Op1, m_APInt(C))) {
     unsigned ShAmtC = C->getZExtValue();
 
-    // shl (zext X), C --> zext (shl X, C)
-    // This is only valid if X would have zeros shifted out.
     Value *X;
     if (match(Op0, m_OneUse(m_ZExt(m_Value(X))))) {
+      // shl (zext X), C --> zext (shl X, C)
+      // This is only valid if X would have zeros shifted out.
       unsigned SrcWidth = X->getType()->getScalarSizeInBits();
       if (ShAmtC < SrcWidth &&
           MaskedValueIsZero(X, APInt::getHighBitsSet(SrcWidth, ShAmtC), &I))
         return new ZExtInst(Builder.CreateShl(X, ShAmtC), Ty);
+
+      // Otherwise, try to cancel the outer shl with a lshr inside the zext.
+      if (Instruction *V = foldShrThroughZExtedShl(Ty, X, ShAmtC, *this, DL))
+        return V;
     }
 
     // (X >> C) << C --> X & (-1 << C)
diff --git a/llvm/test/Analysis/ValueTracking/numsignbits-shl.ll b/llvm/test/Analysis/ValueTracking/numsignbits-shl.ll
index 5224d75a157d5..8330fd09090c8 100644
--- a/llvm/test/Analysis/ValueTracking/numsignbits-shl.ll
+++ b/llvm/test/Analysis/ValueTracking/numsignbits-shl.ll
@@ -101,9 +101,9 @@ define void @numsignbits_shl_zext_extended_bits_remains(i8 %x) {
 define void @numsignbits_shl_zext_all_bits_shifted_out(i8 %x) {
 ; CHECK-LABEL: define void @numsignbits_shl_zext_all_bits_shifted_out(
 ; CHECK-SAME: i8 [[X:%.*]]) {
-; CHECK-NEXT:    [[ASHR:%.*]] = lshr i8 [[X]], 5
-; CHECK-NEXT:    [[ZEXT:%.*]] = zext nneg i8 [[ASHR]] to i16
-; CHECK-NEXT:    [[NSB1:%.*]] = shl i16 [[ZEXT]], 14
+; CHECK-NEXT:    [[ASHR:%.*]] = and i8 [[X]], 96
+; CHECK-NEXT:    [[TMP1:%.*]] = zext nneg i8 [[ASHR]] to i16
+; CHECK-NEXT:    [[NSB1:%.*]] = shl nuw i16 [[TMP1]], 9
 ; CHECK-NEXT:    [[AND14:%.*]] = and i16 [[NSB1]], 16384
 ; CHECK-NEXT:    [[ADD14:%.*]] = add i16 [[AND14]], [[NSB1]]
 ; CHECK-NEXT:    call void @escape(i16 [[ADD14]])
diff --git a/llvm/test/Transforms/InstCombine/iX-ext-split.ll b/llvm/test/Transforms/InstCombine/iX-ext-split.ll
index fc804df0e4bec..b8e056725f122 100644
--- a/llvm/test/Transforms/InstCombine/iX-ext-split.ll
+++ b/llvm/test/Transforms/InstCombine/iX-ext-split.ll
@@ -197,9 +197,9 @@ define i128 @i128_ext_split_neg4(i32 %x) {
 ; CHECK-NEXT:  [[ENTRY:.*:]]
 ; CHECK-NEXT:    [[LOWERSRC:%.*]] = sext i32 [[X]] to i64
 ; CHECK-NEXT:    [[LO:%.*]] = zext i64 [[LOWERSRC]] to i128
-; CHECK-NEXT:    [[SIGN:%.*]] = lshr i32 [[X]], 31
-; CHECK-NEXT:    [[WIDEN:%.*]] = zext nneg i32 [[SIGN]] to i128
-; CHECK-NEXT:    [[HI:%.*]] = shl nuw nsw i128 [[WIDEN]], 64
+; CHECK-NEXT:    [[SIGN:%.*]] = and i32 [[X]], -2147483648
+; CHECK-NEXT:    [[TMP0:%.*]] = zext i32 [[SIGN]] to i128
+; CHECK-NEXT:    [[HI:%.*]] = shl nuw nsw i128 [[TMP0]], 33
 ; CHECK-NEXT:    [[RES:%.*]] = or disjoint i128 [[HI]], [[LO]]
 ; CHECK-NEXT:    ret i128 [[RES]]
 ;
diff --git a/llvm/test/Transforms/InstCombine/shifts-around-zext.ll b/llvm/test/Transforms/InstCombine/shifts-around-zext.ll
new file mode 100644
index 0000000000000..517783fcbcb5c
--- /dev/null
+++ b/llvm/test/Transforms/InstCombine/shifts-around-zext.ll
@@ -0,0 +1,69 @@
+; NOTE: Assertions have been autogenerated by utils/update_test_checks.py UTC_ARGS: --version 5
+; RUN: opt -S -passes=instcombine %s | FileCheck %s
+
+define i64 @simple(i32 %x) {
+; CHECK-LABEL: define i64 @simple(
+; CHECK-SAME: i32 [[X:%.*]]) {
+; CHECK-NEXT:    [[LSHR:%.*]] = and i32 [[X]], -256
+; CHECK-NEXT:    [[TMP1:%.*]] = zext i32 [[LSHR]] to i64
+; CHECK-NEXT:    [[SHL:%.*]] = shl nuw nsw i64 [[TMP1]], 24
+; CHECK-NEXT:    ret i64 [[SHL]]
+;
+  %lshr = lshr i32 %x, 8
+  %zext = zext i32 %lshr to i64
+  %shl = shl i64 %zext, 32
+  ret i64 %shl
+}
+
+;; u0xff0 = 4080
+define i64 @masked(i32 %x) {
+; CHECK-LABEL: define i64 @masked(
+; CHECK-SAME: i32 [[X:%.*]]) {
+; CHECK-NEXT:    [[MASK:%.*]] = and i32 [[X]], 4080
+; CHECK-NEXT:    [[TMP1:%.*]] = zext nneg i32 [[MASK]] to i64
+; CHECK-NEXT:    [[SHL:%.*]] = shl nuw nsw i64 [[TMP1]], 44
+; CHECK-NEXT:    ret i64 [[SHL]]
+;
+  %lshr = lshr i32 %x, 4
+  %mask = and i32 %lshr, u0xff
+  %zext = zext i32 %mask to i64
+  %shl = shl i64 %zext, 48
+  ret i64 %shl
+}
+
+define i64 @combine(i32 %lower, i32 %upper) {
+; CHECK-LABEL: define i64 @combine(
+; CHECK-SAME: i32 [[LOWER:%.*]], i32 [[UPPER:%.*]]) {
+; CHECK-NEXT:    [[BASE:%.*]] = zext i32 [[LOWER]] to i64
+; CHECK-NEXT:    [[TMP1:%.*]] = zext i32 [[UPPER]] to i64
+; CHECK-NEXT:    [[TMP2:%.*]] = shl nuw i64 [[TMP1]], 32
+; CHECK-NEXT:    [[O_3:%.*]] = or disjoint i64 [[TMP2]], [[BASE]]
+; CHECK-NEXT:    ret i64 [[O_3]]
+;
+  %base = zext i32 %lower to i64
+
+  %u.0 = and i32 %upper, u0xff
+  %z.0 = zext i32 %u.0 to i64
+  %s.0 = shl i64 %z.0, 32
+  %o.0 = or i64 %base, %s.0
+
+  %r.1 = lshr i32 %upper, 8
+  %u.1 = and i32 %r.1, u0xff
+  %z.1 = zext i32 %u.1 to i64
+  %s.1 = shl i64 %z.1, 40
+  %o.1 = or i64 %o.0, %s.1
+
+  %r.2 = lshr i32 %upper, 16
+  %u.2 = and i32 %r.2, u0xff
+  %z.2 = zext i32 %u.2 to i64
+  %s.2 = shl i64 %z.2, 48
+  %o.2 = or i64 %o.1, %s.2
+
+  %r.3 = lshr i32 %upper, 24
+  %u.3 = and i32 %r.3, u0xff
+  %z.3 = zext i32 %u.3 to i64
+  %s.3 = shl i64 %z.3, 56
+  %o.3 = or i64 %o.2, %s.3
+
+  ret i64 %o.3
+}