Migrate SEPM to new server

Currently using SEPM 12.1.5 version, need to migrate to new server with same name and ip of current server.

What is the steps required for migration. Also planning to upgrade to 12.1.6 version. Need guide how to do this.

1. First  migrate or 

2. Upgrade  with new version and do miration.

After migration to new version do all policies and client communicate with SEPM.

Guide me with best option.