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Ferrite has a cubic crystalline structure with the chemical formula MO.Fe2O3 where Fe2O3 is iron oxide and MO refers to a combination of two or more divalent metal (i.e: zinc, nickel, manganese and copper) oxides. The addition of such metal oxides in various amounts allows the creation of many different materials whose properties can be tailored for a variety of uses.

Sourced from wiki.

Actually, wikipedia itself opens the article for Ferrite as:

Ferrite or alpha iron (α-Fe) is a materials science term for iron, or a solid solution with iron as the main constituent, with a body centred cubic crystal structure. It is the component which gives steel and cast iron their magnetic properties, and is the classic example of a ferromagnetic material. Practically speaking, it can be considered pure iron.

This dictionary agrees, stating this as one of the definitions: "the pure iron constituent of ferrous metals"

Or in other words: Ferrite is iron. Ferrite can also refer to certain iron compounds. It's that second part I learned today. The first part I originally stated was still correct. That's the definition I remembered from Chemistry way back in the day.