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TLC59116F: Output current per channel

Part Number: TLC59116F

Hello,

I just wanted to double check. When you say that the output current per channel max is 120 mA. Does this mean that the device will be able to handle sinking the current of all 16 channels at the same time with 120 mA on each channel? So it can handle sinking about 1.92 A sinked at once?

Regards,

Joseph