Abstract: An apparatus and method for installing a semiconductor component on a substrate such as a printed circuit board. One embodiment may include a placement tool that defines an opening for receiving a semiconductor component therein. The body may have a guide for aligning the semiconductor component within the opening and one or more other guides for aligning the placement tool relative to the substrate. One or more gripper arms may be pivotally attached to the body member for releasably gripping an interconnect device therewith. The method may include placing an insertion tool over an interconnect device, seating the insertion tool over the interconnect device, transporting the interconnect device to an assembly area, placing the interconnect device on a substrate, inserting a semiconductor component into the interconnect device, and releasing the interconnect device and the semiconductor component from the tool.