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:

Five Below: "Five Below is like Dollar General, Dollar Tree, TJX and Ross Stores, except for I think it has moved too far. I want to say ring the register. A little profit taking for Five Below wouldn't hurt anybody."

Posco: "Engineering, construction and steel. I say stay away. If you want to own a company in this segment, you might want to own Nucor. That's the one I feel most confident about."

Twilio: "They are going to report Aug. 8, let's see what happens. This is a play on a lot of the growth that we see on Airbnb, Facebook or WhatsApp. So, let's just hold off now that we are this close to the quarter."

Western Digital: "I don't know. It's such a commodity play ... Look at Seagate, it just went all the way up and then all the way down. If you want to be in a commodity play, I prefer you to actually be in Intel, where I think you've got the yield, good balance sheet and management that is concentrated on making you money."

Cypress Semiconductor: "I think Cypress is cheap fundamentally and there is a lot of consolidation happening in this space. So, Cypress is a keeper."

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