A semiconductor device is provided having a free layer and a pinned layer spaced apart from each other. A tunnel barrier layer is formed between the free layer and the pinned layer. The pinned layer may include a lower pinned layer, and an upper pinned layer spaced apart from the lower pinned layer. A spacer may be formed between the lower pinned layer and the upper pinned layer. A non-magnetic junction layer may be disposed adjacent to the spacer or between layers in the upper or lower pinned layer.