Yes. This is quite frequent and whatever the disturbance it may cause, it also means that the shunt is functioning well.
The reason for this is the rotation of the ruby ball on its seat and the turbulence induced by CSF flow through the rigid structure of the valve. These noises are amplified and transmitted by the skull to the cochlea.
These noises mainly occur when the patient is changing position leading to a temporary increase of the CSF flow through the shunt.