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:

Cheniere Energy: "We are not buyers of Cheniere. We were Charif Souki [former CEO] fans and we question the plan here now. We are not going to be involved with Cheniere."

IBM: "IBM is moving up in part because they're really starting to get it together, becoming much, much more toward what we want. We want social, mobile, cloud, interactive and artificial intelligence. So I am going to tell you that I think IBM is a tepid buy. Not a strong buy, but a tepid buy."

Medtronic PLC: "Easy, Medtronic is a great company. That combine with Covidien was brilliant. I think these are good, but I think Edwards Lifesciences is even better."

W W Grainger: "It's just a great company, it's a great long term hold ... Not going to pound the table, but I like Grainger and I've liked it for 20 years."

Veeva Systems: "No, Veeva Systems just had a nice run and ... We want to be cloud, we want to be Salesforce, we want to be Adobe, we want to be Workday. Or a little speculative we will go to Box."

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Skyworks Solutions: "Yes, I think David Aldrich [CEO] has done a great job. That stock has spent enough time in the wilderness. It's time for it to start rallying."

Ford: "I think Mark Fields [CEO] is doing a great job. Don't forget the special dividend. I think it's a buy."

Intel Corporation: "I think Intel is a buy. I think Brian Krzanich [CEO] has really turned the company around. I actually am not that worried about this quarter, which is historically a weak one. I think Intel is a buy."

Mylan: "No, Mylan is too much of just the generics. I like Allergan, my charitable trust owns it. Why? Because it is selling its generic business to Teva. I say you sell Mylan and you buy Allergan."

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