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Microtune (TUNE) says it now sees Q4 revenue at the low end of its previous guidance range of $24.5 million to $26.5 million.

The company, which makes RF tuners and amplifiers, among other components, says that in September, it began to see “significantly decreased demand” for its automotive entertainment products, and that it recently began to see softening demand in the cable market. TUNE said it now sees Q1 revenue of $20 million, below the Street consensus of $24.4 million.

Microtune, Inc. (NASDAQ: TUNE), a silicon and subsystems company that designs and markets radio frequency (RF) solutions for the worldwide consumer electronics and automotive electronics markets, recently reported its financial results for the second quarter that ended June 30, 2008. Microtune’s net revenue for the second quarter totaled $26.6 million, a 7% year-over-year increase compared to net revenue of $24.8 million for the same period one year earlier. Non-GAAP net income per diluted share reached $0.06 for the second quarter versus $0.07 in the second quarter of 2007.

Microtune, Inc. (TUNE), a designer and marketer of radio frequency (RF) solutions for the worldwide consumer electronics and automotive electronics markets, reported better than expected second quarter results yesterday after the close. Revenues rose to $26.6 million, an increase of 7% year over year and 5% sequentially. Net income fell 19% to $1.7 million. On a non-GAAP basis excluding items, Microtune earned 6 cents per share vs. analysts’ estimates of 4 cents per share.

What’s the outlook for chip stocks?

That’s the question at issue tonight at the 12th annual Churchill Club Semiconductor Forecast dinner at the Hyatt in Santa Clara. The lineup is a good one:

• Bill Tai, general partner of Charles River Ventures, is the moderator.
• Christopher Danely, analyst at J.P. Morgan.
• Dan Niles, CEO at Neuberger Berman Technology Management.
• Mark Lipacis, analyst, Morgan Stanley.
• Sangeeth Peruri, managing director and portfolio manager, J.&W. Seligman.