1. A magnetic one-time-programmable memory cell comprising: a magnetic tunnel junction (MTJ) device comprising a fixed magnetic layer fabricated on a first electrode, a tunnel barrier insulating layer fabricated upon the fixed magnetic layer, a free magnetic layer fabricated on the tunnel barrier insulating layer, and a second electrode fabricated on the free magnetic layer, wherein a diameter of the MTJ device is chosen such that the tunnel barrier insulating layer is broken down by a program voltage applied across the magnetic one-time-programmable memory cell that is approximately equal to a write voltage for a read/write MRAM memory cell having an equal tunnel barrier insulating layer thickness; and a gating metal oxide semiconductor (MOS) transistor serially connected to the MTJ device.