Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Ovtchinnikov Alexander
 2. Date of Event Requiring Statement (Month/Day/Year)
12/12/2006		 3. Issuer Name and Ticker or Trading Symbol
IPG PHOTONICS CORP [IPGP]
(Last)
(First)
(Middle)
C/O IPG PHOTONICS CORPORATION, 50 OLD WEBSTER ROAD		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

OXFORD, MA 01540		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 96,846
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options (right to buy)   (1) 03/03/2014 Common Stock 2,222 $ 1.5 D  
Employee Stock Options (right to buy)   (2) 03/03/2014 Common Stock 16,667 $ 1.5 D  
Employee Stock Options (right to buy)   (3) 09/22/2015 Common Stock 10,934 $ 1.87 D  
Employee Stock Options (right to buy)   (4) 04/18/2016 Common Stock 100,000 $ 5.37 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Ovtchinnikov Alexander
C/O IPG PHOTONICS CORPORATION
50 OLD WEBSTER ROAD
OXFORD, MA 01540		       Vice President  

Signatures

Angelo P. Lopresti, as Attorney-in-Fact 12/12/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Mr. Ovtchinnikov was granted options to purchase 6,666 shares, which are exercisable in three equal annual installments of 2,222 shares beginning on 3/3/05. Mr. Ovtchinnikov has exercised 4,445 of these options.
(2) Mr. Ovtchinnikov was granted options to purchase 33,333 shares, which are exercisable in four equal annual installments of 8,334 shares beginning on 3/3/05. Mr. Ovtchinnikov has exercised 16,666 of these options.
(3) Mr. Ovtchinnikov was granted options to purchase 13,333 shares, which are exercisable in four equal annual installments of 3,334 shares beginning on 9/22/06. Mr. Ovtchinnikov has exercised 2,400 of these options.
(4) These options are exercisable in five equal annual installments of 20,000 shares beginning on 4/18/07.

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