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:

Camping World Holdings: "They had a good quarter. It just doesn't matter. It's retail right now. One day, that will matter. It does not matter. I've gone over that quarter time and again, and it just was good. It didn't seem to move the needle."

Micron Technology: "OK, the Goldman Sachs report today was very cogent, where it just said, 'Look, we know we don't want to overstay our welcome here because the prices for DRAMs have gone up so much, it'll be a huge amount of DRAMs being made because other companies are going to develop more factories.' So I've got to say don't buy. I thought it was a good report, and it was very cogent."

Chesapeake Energy: "Chesapeake is cheap if it's very hot this summer, and it's not cheap – even though it's valued at $5 – if it's not hot. And that's the way this thing works. I know a lot of people say, 'Jim, you really like it.' It's a call on the weather. Because that is what controls natural gas. If it's real hot, that stock will go higher."

Square Inc.: "Almost nothing can keep up with that stock price. [Square CFO] Sarah Friar, I spoke with her last week. They had an excellent quarter and they are a very real payments company, but I've got to tell you, it's a crowded space. The stock's at $19. It could go back to $18. At $18, pull [the trigger]."

Stamps.com: "It got rocked because it looks like Pitney Bowes is finally getting into that business. Pitney Bowes has been a terrible stock. It's a rival product. I don't think there's room. I think you've got to be careful. I think that makes sense, to do some selling."

Teekay Offshore Partners: "I don't like any of the maritime shippers, and may I just say once again – someone on a rival publication said that I liked Nordic American. There was a period where I did like Nordic American Tankers. That was a long time ago. I don't want you in that stock. They did another bad quarter today. I'm sorry, but I've got to tell you, that stock is not for me."

Valvoline: "Oh, we like that. We thought it was an inexpensive stock that nobody got excited about, and it's still an inexpensive stock and it's still going higher. I think it's a winner."

FireEye: "You know what, that was a good quarter. Read that conference call. It was very good. If it drops back at all, then you want to be a buyer."

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