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:

Seagate Technology: "Maybe a classic value trap. I have now started to worry about the dividend coverage even though it's a well-run company. They have not diversified away from the P.C. and we know what's going on with the P.C."

AbbVie: "Oh man they are good. I'm going to give you a two-for, I like both Abbott and AbbVie, they are really well-run companies. A lot of valuation created there."

Panera Bread: "I saw Jack in the Box, I have to hand it to Jack in the Box, they had a very good number. Panera is a big actionalertsplus.com name and one of our stocks of the year. So I'm going to say stick with it through thick and thin."

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Mitek Systems: "Wow, what a quarter they had. I can't believe it. That stock is really on fire. I'm going to say stick with it."

Mastercard: "I like Mastercard, I think Mastercard is terrific. Now, they are in a very competitive business but Ajay Banga [CEO] is fantastic. I say, into weakness, buy MA."

Main Street Capital: "I've looked at Main Street Capital and I have to tell you I found a hard time understanding what they're really doing, and that is because they are one of these opaque companies inside. A specialty investment company, and I'm against them. I am against them because they lack clarity. And I have enough problems with the companies that have clarity."

Acadia Pharmaceuticals: "People like this thing on a takeover basis. I am not going to recommend any stock on a takeover basis that's speculative. S, I'm going to have to say don't buy."

Medtronic: "You are lucky to be a shareholder of Medtronic, because that hit a 52-week high. That is one great company. I should have included that in last night's piece about some of the best quarters. Medtronic is terrific."

TravelCenters of America: "I thought it would be doing better. This is a company that has gas stations. I mean, what's the deal guys? It's hospitality and fuel services, but it's not doing that well. I am going to say don't buy."

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