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:

Xilinx, Inc: "I think Xilinx could be owned on earnings. Very rare. T-Mobile I feel the same way. Earnings or takeover. That's right, I think you could own it either way because I think it can be bought and it can be bought on earnings."

Fitbit: "I expect nothing good to come of Fitbit. It turned out to be a commodity that's all it really was. It's a shame because it had such a great concept. But there is just too many of them. It's an overcrowded category. I can't recommend it."

Jazz Pharmaceuticals: "The reason I was going to say that you don't want to be in Jazz is because our President I think is uniquely ready to take on the drug industry, and Jazz will get hurt. Whether you think it should or not, the stock will get hurt."

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