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:

Ultra Clean Holdings: "Look, if we're going to do semi[conductor] equipment, remember the order: We like Lam Research first. Then we like Applied Materials. And then we like KLA-Tencor. And that's the order that we're keeping."

Hertz: "OK, very interesting. Hertz's stock has come back without the company coming back. I think that's because somehow, the price of used cars has gone up. I'm looking at CarMax. It's going up. That's my thesis."

Fastenal: "It's a cheap stock. I can't go either way on it because there's so many other guys who are killing it. I mean, really, if you want an industrial, why not go with a Honeywell? Why do we have to go down there? Honestly. Let's go to Honeywell."

AES Corp.: "It's fine. You get the 4 percent yield. It kind of does nothing. You know, there's real no catalyst. You didn't give me a catalyst, and I don't have one."

PTC Therapeutics: "You've got yourself a real binary situation there. We stopped recommending these. We stopped after Alder Bio. We decided, you know what, they're too hard for us. They're just too hard."

Petmed Express: "You're a genius because you know that the humanization of pets only has a couple of players, Idexx [Laboratories] and PetMed Express. I'm not backing away even up here."

Macy's: "I think the whole group – I think Nordstrom is going to get a deal, I think Macy's is probably done going down. I think when you drop the February month, you're going to see better numbers. But I suggest you buy PVH even up here. We'd rather have the arms dealer that sells everywhere than one particular company."

Cutera: "Aesthetic lasers. Look, if it's aesthetics, I'm going to go to the king of aesthetics, a stock owned by my charitable trust – you can follow along at ActionAlertsPlus.com – Allergan, which actually broke out today and then slipped back."

Valeant: "I think that [CEO] Joe Papa has done the right thing. He has paid down enough debt that he's got some breathing room to be able to have the stock go higher. I think it can go to $20. Now, where was I at $15? He wasn't paying down the debt fast enough. Now he is."