A spin-valve transistor showing high sensitivity at low fields was develope
d. A large magnetocurrent, above 500% is realized by a magnetic field chang
e of 2 to 4 Oe at 80 K. Hot electrons are injected into the spin-valve laye
r through a Si-Pt Schottky diode. These hot electrons, while traversing thr
ough the spin-valve, are spin-dependently scattered. Those electrons with r
ight energy and momentum are collected by a collector (an Au-Si Schottky di
ode) constituting a collector current. The relative orientation of the magn
etic layer in the spin-valve is changed by the application of a magnetic fi
eld and causes a change in collector current giving a large magnetocurrent.