We report experimental transport measurements of a vertical hybrid ferromagnetic (FM)/III-V semiconductor (SC)/ferromagnetic(FM) type structure, i.e., Cr(20ML)/Co(15ML)/GaAs(50 nm, n-type)/Al0.3Ga0.7As(200 nm, n-type)/FeNi(30 nm). The current-voltage (I-V) characteristics reveal Schottky/tunneling type behavior in the direction of FeNi/Semiconductor/Co and observed to be dependent on external magnetic field. The magnetoresistance (MR) behavior shows a strong dependence on the measured current and field. At low fields no significant change in MR has been observed with increasing current. However, at high fields the MR initially increases with increasing current and becomes stable beyond a critical current of 10 μA. A maximum of 12% change in the MR has been observed at room temperature, which is far larger than that of the conventional AMR effect. This property of the device could be utilized as field sensors or magnetic logic devices.