4 Internet of Things Stocks Growing Faster than Sierra Wireless Inc.

By Markets Fool.com

Internet of Things (IoT) darlingSierra Wireless's has been on a tear as of late. Back in November 2014 the company posted a 28% year-over-year increase in quarterly revenue with $0.24 earnings per share -- while analysts were targeting EPS of just $0.13. Over the past 12 months the stock is up more than 80%, making it one of the best performing IoT stocks of 2014.

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Over the next year, the analyst consensus for sales growth comes in at around 13%. Which begs the question: Are there any other Internet of Things stocks that are growing faster?

Indeed there are, so let's take a quick look:

Ambarella : Estimated24% revenue growth
Ambarella makes systems-on-a-chip (SoC) for GoPro's massively popular cameras and other wearable tech.GoPro uses Ambarella's technology exclusively and that's been a very good thing for the company thus far. Ambarella currently sports 63% gross margins, has its new A9 in two of GoPro's newest cameras, and is also using the new SoC high-end drones used for filmmaking. While making systems-on-a-chip for wearable cameras is Ambarella's bread and butter, the company is also expanding its tech into high-definition security camera for AT&Tand other companies.

CalAmp : Estimated15% revenue growth
Investors have been a bit spooked by CalAmp over the past year, but that doesn't mean its sales growth isn't moving the right direction. The company is continually building out its DataCom business, which makes up a vast majority of its revenue.The stock surged more than 300% from January 2013 to March 2014, before plunging more than 30% last year. While CalAmp's stock is volatile, it continues to have promising contracts with Caterpillar and other major companies looking for wireless machine-to-machine connections that should push revenue in the right direction.

Invensense :Estimated 22% revenue growth
Invensense makes micro electro mechanical system (MEMS) gyroscopes for motion tracking in devices likeGoogle Glass, Apple's iPhone 6 lineup, and others. While the stock had a less than stellar 2014, sales of MEMS are expected to triple over next few years, according to IHS.The company saw its margins drop recently from 50% to 37%, but should see them bounce back over the coming quarters. With device growth from Xiaomi and LG, along with larger tech companies, Invensense should enjoy 22% revenue growth over the next year.

Skyworks Solutions :Estimated 31% revenue growth
Skyworks makes analog and mixed signal semiconductors for companies like Apple andSamsung, but also thousands of other clients worldwide. As more devices connect the Internet (that formerly weren't connected), Skyworks has benefited.As Skyworks noted in slideshow presentation last month, "IoT plays into our strengths."The company expects revenue growth of greater than 50% for its first fiscal quarter 2015, and analysts project 31% revenue growth over the next year. That's boosted investor confidence in the stock, with Skyworks up an amazing 161% over the past 12 months. Its earnings have been firing on all cylinders, and there's no sign of the company slowing down.

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The article 4 Internet of Things Stocks Growing Faster than Sierra Wireless Inc. originally appeared on Fool.com.

Chris Neiger has no position in any stocks mentioned. The Motley Fool recommends Ambarella, Apple, CalAmp, Google (A shares), Google (C shares), GoPro, InvenSense, and Sierra Wireless. The Motley Fool owns shares of Ambarella, Apple, Google (A shares), Google (C shares), InvenSense, Sierra Wireless, and Skyworks Solutions. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.