A method for sensing at least one parameter indicative of a logical state of a multi-level memory cell includes the steps of: measuring the parameter of the multi-level memory cell; comparing the measured parameter of the multi-level memory cell with a prescribed reference signal, the reference signal having a value which varies as a function of time; and storing a time value corresponding to a point in time at which the reference signal is substantially equal to the measured parameter of the multi-level memory cell, the stored time value being indicative of a sensed logical state of the multi-level memory cell.