This work investigates spin transfer torque control of time-averaged magnetization in a small 20 nm × 60 nm nanomagnet with a low thermal stability factor, Δ ∼ 11. Here, the nanomagnet is a part of a magnetic tunnel junction and fluctuates between parallel and anti-parallel magnetization states with respect to the magnetization of the reference layer generating a telegraph signal in the current versus time measurements. The response of the nanomagnet to an external field is first analyzed to characterize the magnetic properties. We then show that the time-averaged magnetization in the telegraph signal can be fully controlled between +1 and −1 by voltage over a small range of 0.25 V. NIST Statistical Test Suite analysis is performed for testing true randomness of the telegraph signal that the device generates when operated at near critical current values for spin transfer torque. Utilizing the probabilistic nature of the telegraph signal generated at two different voltages, a prototype demonstration is shown for multiplication of two numbers using an artificial AND logic gate.