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:

Micron Technology: "No, we are not going to touch Micron. There is just no need. We've got really good high quality stocks like Skyworks Solutions that are down. We don't need that one."

Fortinet Inc: "The only one of these that we are recommending right now is Palo Alto Networks, and you have to understand that stock is very richly valued. This is not the kind of environment where we can take chances. But Fortinet did have a very good quarter."

Kite Pharma Inc: "All of the immunotherapy stocks are very, very risky. We've been saying this now for months. When you see Celgene and when you see Gilead down all the time, it is very hard to go down to what I regard as the over transom biotech stocks."

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Barrick Gold Corporation: "They rang the bell the other day and I had to admit it, I said listen I know it's up short term but longer term it's just been a real disaster. The one I like is Randgold."

Chico's Fas, Inc: "When we think of over-stored we think of Chico's ... I just think that there is too many apparel retailers."

Lockheed Martin Corporation: "I think that it is a terrific stock at these prices. Marillyn Hewson [CEO] is doing a good job, Sikorsky she might have paid a little bit too much for, but I like Lockheed Martin."

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