It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

Cree, Inc: "It's down so much I can't recommend you sell it. They have missed the quarter, missed the quarter, missed the quarter. You miss it so many times obviously you're going to be punished. That's where they are."

InvenSense Inc: "A lot of people played this one. You know what? Maybe I'm getting conservative in my older age but this one is too dicey for me."

BP: "Alright let's just say it—everybody is in danger in the oil patch if oil breaks through $30. Everybody. If it breaks through $40 there are going to be fewer that will be in danger. BP is a really good well-run company with a lot of assets it can still sell. That said, let's understand eachother. When I was speaking to the Fibonacci Queen [Carolyn Boroden] and she was saying to me be very careful. But it looks like we might be getting a buy signal...Me? My charitable trust owns them, we are under water on them...but we are not selling any oils."

Vereit Inc: "This is a real estate investment trust that does not deserve to be as low as it is. It doesn't make sense to me. I'm fine with it."

Read more from Mad Money with Jim Cramer

Cramer Remix: May be the best trade in the week ahead
Cramer game plan: I smell profit in this next week
Cramer: How to know when to sell a sizzler

Shake Shack Inc: "Let's talk about Shake Shack for a second. It started going up today after that hideous secondary that it did. My line on Shake Shack is that this is a stock that is overvalued, but if you love it like if you love Tesla, like if you love Netflix, I am not going to fight you. Everybody has a right to buy a stock of a product they really like and hope that overall the company grows out to its market cap. And that is what Shake Shack has to do."

SolarEdge: "I'm once burned, twice shy on these solar stocks. I'm doing a lot of work that's beating myself up on SunEdison. We are doing a lot of whipping of ourselves and evaluating things. Why? Because you can learn more from your mistakes than you can from your successes."

Intrexon Corp: "This is the hottest biotech stock that I have ever seen. We are going to do a deep download, I've got a team of people working on this one. We are not going to declare it's safe just yet."

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com