A multi-bit magnetic random access memory device and a method for writing to and sensing the multi-bit magnetic random access memory device. The magnetic memory includes a memory cell with a multilayer structure having a plurality of data layers which can each store one bit. The structure includes a plurality of magnetically changeable ferromagnetic layers, a ferromagnetic reference layer having a fixed magnetization state, a first spacer layer separating the magnetically changeable ferromagnetic layers, and a second spacer layer separating the ferromagnetic reference layer from the magnetically changeable ferromagnetic layers. This structure allows for more than one-bit to be stored as well as for efficient writing and reduced power consumption.