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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 HSRLc+P+37PGXgBBAiarkENUzjjhBNwe6Yyb3OkhbQLPmmF/AIxoZU+EsyNxRJms
 TbR25u6v4g+E/tdRNnjPhQ==

<SEC-DOCUMENT>0001157523-07-003032.txt : 20070328
<SEC-HEADER>0001157523-07-003032.hdr.sgml : 20070328
<ACCEPTANCE-DATETIME>20070328091909
ACCESSION NUMBER:		0001157523-07-003032
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20060511
FILED AS OF DATE:		20070328
DATE AS OF CHANGE:		20070328

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALPEY FISHER CORP
		CENTRAL INDEX KEY:			0000085608
		STANDARD INDUSTRIAL CLASSIFICATION:	STEEL WORKS, BLAST FURNACES & ROLLING & FINISHING MILLS [3310]
		IRS NUMBER:				060737363
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		75 SOUTH ST
		CITY:			HOPKINTON
		STATE:			MA
		ZIP:			01748
		BUSINESS PHONE:		5084359039

	MAIL ADDRESS:	
		STREET 1:		75 SOUTH STREET
		CITY:			HOPKINTON
		STATE:			MA
		ZIP:			01748

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MATEC CORP/DE/
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	RSC INDUSTRIES INC
		DATE OF NAME CHANGE:	19840515

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REEVES INDUSTRIES INC
		DATE OF NAME CHANGE:	19710520

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			OLIWA WALTER
		CENTRAL INDEX KEY:			0001393667

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-04184
		FILM NUMBER:		07722830

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		508-435-6831

	MAIL ADDRESS:	
		STREET 1:		34 MARSTON DR
		CITY:			BEDFORD
		STATE:			NH
		ZIP:			03110
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>a5365663_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-05-11</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000085608</issuerCik>
        <issuerName>VALPEY FISHER CORP</issuerName>
        <issuerTradingSymbol>VPF</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001393667</rptOwnerCik>
            <rptOwnerName>OLIWA WALTER</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O VALPEYFISHER CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>75 SOUTH ST.</rptOwnerStreet2>
            <rptOwnerCity>HOPKINTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>01748</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>VP of Research and Development</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, $.05 Par Value</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock option to buy</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.11</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-05-15</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock $.05 Par Value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>25000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The option vests in equal installments on May 15, 2006, 2007, 2008, 2009, and 2010.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Walter L. Oliwa</signatureName>
        <signatureDate>2007-03-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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