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:

Regeneron Pharmaceuticals: "Understand that Regeneron and Celgene are both under a lot of pressure because they're biotechs. You can hold on but understand that group will not do well I think until after the election."

Holly Energy Partners: "You've got to be careful because ... there's a big decision coming down. Williams and Energy Transfer (ETE) and it could hurt any one of these that is in an MLP [master limited partnership] group is going to get hurt and Holly Energy could get hurt, too. A 6.5 percent [yield] with oil at $50 it's not so bad. I just emphasize that there's more risk than you think."

Micron Technology: "I think Micron is going to slowly come back. It's kind of like Advanced Micro Devices. There's a poll, so it comes back. I don't know, could it get to $15? Yes it probably could."

OPKO Health Inc: "I saw that Phil Frost [CEO] bought some more stock ... that last acquisition really did kill the stock, but I do believe in the company."

Cheniere Energy Partners: "There is LNG, which I don't like. There's CQP, which I do like. But I cooled when they fired Charif Souki [former CEO]. I thought Charif Souki built a great company and then he's gone. I have no idea who these guys are running it now."

Medtronic PLC: "Medtronic made that acquisition, it's rationalizing things. It's such a good situation. I like it a lot."

Windstream Holding Inc: "You're reaching for yield with WIN. We don't want to reach for yield, we would rather be in an AT&T at 4.7 percent."

Mueller Water Products: "I owned a big position in Mueller many, many years ago when I was allowed to own stocks at my hedge fund. I think it's terrific. It's water infrastructure and we like water infrastructure."

Rite-Aid Corp: "Rite Aid has got a $9 target on it because Walgreens, which my charitable trust owns, is trying to buy it. I don't trust the government anymore. Sell, sell, sell."

Parker-Hannifin Corp: "That's a very well-run company and I like it very much. There's not much more to say other than the fact that they did have a real good quarter."

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