An inductor component consisting of a small piece of ferrite material as the inductor, with the two contacting electrodes placed directly onto the ferrite, at each end of the component. Like chip capacitors, chip inductors have no connecting leads and are soldered directly onto the printed circuit board using surface mount technology. These components therefore have much lower parasitic inductance and capacitance than similar-valued leaded components, and are used primarily for high-frequency or high-precision circuits.