diff --git a/homeassistant/components/axis/__init__.py b/homeassistant/components/axis/__init__.py
index c467359c17e..8722c41c3e0 100644
--- a/homeassistant/components/axis/__init__.py
+++ b/homeassistant/components/axis/__init__.py
@@ -48,8 +48,11 @@ async def async_migrate_entry(hass, config_entry):
 
     #  Flatten configuration but keep old data if user rollbacks HASS prior to 0.106
     if config_entry.version == 1:
-        config_entry.data = {**config_entry.data, **config_entry.data[CONF_DEVICE]}
-        config_entry.unique_id = config_entry.data[CONF_MAC]
+        unique_id = config_entry.data[CONF_MAC]
+        data = {**config_entry.data, **config_entry.data[CONF_DEVICE]}
+        hass.config_entries.async_update_entry(
+            config_entry, unique_id=unique_id, data=data
+        )
         config_entry.version = 2
 
     # Normalise MAC address of device which also affects entity unique IDs
@@ -66,10 +69,12 @@ async def async_migrate_entry(hass, config_entry):
                 )
             }
 
-        await async_migrate_entries(hass, config_entry.entry_id, update_unique_id)
+        if old_unique_id != new_unique_id:
+            await async_migrate_entries(hass, config_entry.entry_id, update_unique_id)
 
-        config_entry.unique_id = new_unique_id
-        config_entry.version = 3
+            hass.config_entries.async_update_entry(
+                config_entry, unique_id=new_unique_id
+            )
 
     _LOGGER.info("Migration to version %s successful", config_entry.version)
 
diff --git a/tests/components/axis/test_init.py b/tests/components/axis/test_init.py
index b7faceaf10d..36a603ea7b3 100644
--- a/tests/components/axis/test_init.py
+++ b/tests/components/axis/test_init.py
@@ -109,7 +109,7 @@ async def test_migrate_entry(hass):
         CONF_MODEL: "model",
         CONF_NAME: "name",
     }
-    assert entry.version == 3
+    assert entry.version == 2  # Keep version to support rollbacking
     assert entry.unique_id == "00:40:8c:12:34:56"
 
     vmd4_entity = registry.async_get("binary_sensor.vmd4")