A semiconductor device with high storage capacity and low power consumption is provided. The semiconductor device includes first to third conductors, first and second transistors, and an MTJ element. The MTJ element includes a free layer and a fixed layer. In the semiconductor device, the first conductor, the second conductor, the free layer, the fixed layer, the first and second transistors, and the third conductor are provided in this order from the bottom. In particular, in a plan view, the third conductor is positioned in a region overlapping with the first conductor. The first conductor is electrically connected to the second conductor, and the second conductor is electrically connected to the free layer and a first terminal of the first transistor. The fixed layer is electrically connected to a first terminal of the second transistor, and a second terminal of the first transistor is electrically connected to a second terminal of the second transistor and the third conductor. The first transistor and the second transistor each include a metal oxide in a channel formation region.