It's that time again! CNBC's Jim Cramer rang the lightning round bell, which means he gave his take on callers' favorite stocks at rapid speed:

Bank of America: "It's [lagging] because Bank of America needs rate hikes more than any of these other banks to be able to have a big number in the future. And everyone's so worried that the Fed's not going to raise anything this year. That's why it sold off. I urge you to hang onto it."

Kite Pharma: "I like Kite, but we are Portola fans on this show. P-T-L-A! That's the one we did the work on that we like the best. That's the one you should be in."

J2 Global: "It's OK. I mean, you know, it's cloud-based. Everyone gets excited. This is the type of thing where you should be in Salesforce.com just because it's cloud. I know, it doesn't mean they're necessarily analogous, but that's the better stock."

Universal Display Corp.: "I know there's a really huge short position in this. I think the company's set up for a good 2018 and '19, so I'm not deterred."

iRobot Corporation: "I think you should go. I think you should buy it. I'm not kidding. I've been seeing that product now, I was over at a house that had it. I really like it. The military applications are good. I think you're in a good one."

GoPro: "Well, you know what, it had a better-than-expected quarter and gave me a good outlook, but then you're done. I'd rather see you in Best Buy, which gives you that and a lot of other good things."

Norwegian Cruise Lines: "Oh, man, buy, buy, buy. That's one of my absolute favorites. Don't forget, Royal's real good and we think that Carnival's great."

Eldorado Resorts: "Hospitality, good stock. Absolutely. I was thinking about rolling into Wynn [Resorts] here. Hey, by the way, Marriott Vacations up again. But I like your stock. I think it's good."

Buffalo Wild Wings: "The restaurant business is too hard for me right now. We don't have to spend that much time on it. I like the McDonald's of the world. I like fast food, not casual."