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We propose a new type of magnetoelectric memory device that stores magnetic easy-axis information or pseudo-magnetization, rather than a definite magnetization direction, in magnetoelectrically coupled heterostructures. Theoretically, we show how a piezoelectric/ferromagnetic (PE/FM) combination can lead to non-volatility in pseudo-magnetization exhibiting overall ferroelectric-like behavior. The pseudo-magnetization can be manipulated by extremely low voltages especially when the FM is a low-barrier nano-magnet. Using a circuit model benchmarked against experiments, we determine the switching energy, delay, switching probability and retention time of the envisioned 1T/1C memory device in terms of magnetic and circuit parameters and discuss its thermal stability in terms of a key parameter called back-voltage vm which is an electrical measure of the strain-induced magnetic field. Taking advantage of ferromagnetic resonance measurements, we experimentally extract values for vm in CoFeB films and circular nano-magnets deposited on Pb(Mg1/3Nb2/3)0.7Ti0.3O3 which agree well with the theoretical values. Our experimental findings indeed indicate the feasibility of the proposed novel device and confirm the assumed parameters in our modeling effort. [ABSTRACT FROM AUTHOR]