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:

Applied Optoelectronics: "Boy, you're swinging for the fences with the optical plays, including that one. You know what? I'm going to send you back to the drawing board with Broadcom. People don't want to buy Broadcom because it's more than $200. That's penny-wise and pound-foolish."

Nutanix: "I think Nutanix is undervalued here. I like enterprise storage. I can't believe the stock isn't up more after that terrific quarter."

Reynolds American: "OK, just hold on to it [through the takeover]. You're going to do great."

Ulta Beauty: "I think that [CEO] Mary Dillon is doing a remarkable job. I liked that tie-up recently with Estee Lauder. [Estee Lauder CEO Fabrizio] Freda's doing an unbelievable job. Fabrizio and Mary are two of the best executives in the industry and I want you to buy Ulta. Look, and I know the chart looks bad. Alright, alright, alright."

Mosaic: "I think more of a broken stock than company, but you know, if I'm going to go [agriculture], I'm going AGCO. [AGCO CEO] Martin Richenhagen is the man."

Farmland Partners: "Too speculative for me. Again, I am going to return to the Martin Richenhagen theory, AGCO."

KeyCorp: "I understand it didn't do well in the stress test, but I think [CEO] Beth Mooney's terrific. My charitable trust owns it. I'm holding it because it's got growth. It was a bummer to see that it didn't do that well. Maybe they have to boost some capital. I don't think they have to. I'm sticking by KeyCorp. I'm sticking by Beth Mooney."

FireEye: "I'm not a buyer. I like Proofpoint here. I think Proofpoint's doing better. That's the one I would buy."

B&G Foods: "Haven't liked the last couple of quarters. Don't even want that yield if I can't get growth. The food business? I say ixnay, let's go to Mondelez."

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer's world? Hit him up!
Mad Money Twitter - Jim Cramer Twitter - Facebook - Instagram - Vine

Questions, comments, suggestions for the "Mad Money" website? madcap@cnbc.com