A semiconductor device comprises: an insulating film formed over a semiconductor substrate and having a first recess; a plurality of capacitor elements each of which is composed of a capacitor lower electrode formed on wall and bottom portions of the first recess and having a second recess, a capacitor insulating film of a dielectric film formed on wall and bottom portions of the second recess and having a third recess, and a capacitor upper electrode formed on wall and bottom portions of the third recess; and a conductive layer (referred hereinafter to as a low-resistance conductive layer) which is formed to cover at least portions of the respective capacitor upper electrodes constituting the plurality of capacitor elements and to extend across the plurality of capacitor elements and which has a lower resistance than the capacitor upper electrode.