Magnetoresistive element having an out-of-plane sensitivity axis and having reduced hysteresis and increased working field range

A magnetoresistive element for sensing an external magnetic field, comprising:

• a tunnel barrier layer sandwiched between a ferromagnetic reference layer having a pinned reference magnetization, and a ferromagnetic sense layer having a sense magnetization that can be freely oriented in the external magnetic field;
• wherein the reference, tunnel barrier, and sense layers are stacked perpendicular to a layer plane thereof;
• wherein the reference magnetization is oriented substantially perpendicular to the layer plane, and the sense magnetization is oriented substantially parallel to the layer plane;
• wherein at least a portion of the magnetoresistive element has an annular cross-section in the layer plane forming an interior part and an exterior part of said at least a portion, the interior part having an inner diameter and the exterior part having an outer diameter;
• wherein said at least a portion comprises the sense layer, and wherein the sense magnetization has a closed flux path configuration being orientable either in the clockwise or counterclockwise direction;
• and
• wherein the inner diameter being larger than 300 nm, and a difference between the inner and outer diameters is greater than 150 nm.