A semiconductor device includes four or more first memory cells arranged on a row, the first memory cells each including a first pillar-shaped semiconductor layer, a first gate insulating film formed around the first pillar-shaped semiconductor layer, a first gate line formed around the first gate insulating film, and a first magnetic tunnel junction storage element formed on the first pillar-shaped semiconductor layer. The semiconductor device further includes a first source line that connects lower portions of the first pillar-shaped semiconductor layers to each other, a first bit line that extends in a direction perpendicular to a direction in which the first gate line extends and that is connected to an upper portion of the first magnetic tunnel junction storage element, and a second source line that extends in a direction perpendicular to a direction in which the first source line extends.