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:

Prospect Capital: "These are that kind of strange financing stuff with big yield. I think if the economy is getting soft, you do not want to own this one. You just don't want to own it."

Insys Therapeutics: "This is another cancer therapy stock. We have never fought anyone who wants to buy one of these, but we always point the same thing out. It is way too speculative at this point in the cycle, but I'm not going to stop someone from getting it."

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Cypress Semiconductor: "Frankly, I am bewildered by how the stock acts. A stock like Broadcom, which is now the symbol of Avago, is just screaming higher. Even Intel is doing well, and Cypress, I don't know. I feel snake bit. I was snake bit on both Cypress and on Fitbit. Both of those I just feel like I can't get them right. It's driving me crazy. A 5 percent yield, I believe in TJ [TJ Rodgers, CEO of Cypress]."

Cliffs Natural Resources: "I think you've got to take the money and run. I'm not kidding. Sell, sell, sell. Don't be a joker, don't be a midnight toker, sell that stock."

WebMD: "I think this is a good technology company. It doesn't get asked about enough. It's got a very, very good earnings stream. It's expensive, but that's a very good niche."

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