No. look at Mr Filch, both parents Witch and Wizard and yet he is a squib, and Mrs Figg *we do not know if she had two magical parents but this is assumed.
If you also remember Mr Filch had a guide to squibs on how to use magic. But even with that book he couldn't do magic.
If you remember Neville Longbottom, eager to find his magical ability early...they tried ever so hard to find a magical trait in him believing him to be squib, but eventually discovered him not to be a Squib when his Uncle 'accidentally' dropped him out of a window and he bounced down the road.
Squibs however share some things with wizards and witches however:
They are aware of and understand the wizarding world.
They also can see Hogwarts, which ordinary Muggles cannot.
Also, Mrs Figg, said at the trial of Harry Potter she could see the Dementors and explained what they looked like. This was a lie as she and Dumbledore did not trust Cornelius Fudge's to be fair in Harry's trial. Also According to J.K.Rowling, Squibs are incapable of seeing Dementors.
In the wizarding world it is often considered embarrassing to have a squib in the family.
It is all down to genetic traits. Whilst it rare for two magical parents to have a non magical child it does happen. Similar to if both your parents had brown eyes and you have blue eyes. Maybe your Nan or Great Nan had blue eyes for example or If you could back in time you would find one of your ancestors had blues eyes.