Awesome view behavior when height and transparent background color are used on API 21

Using a background color for a view with some alpha (e.g. # 99fe0038) and some height above API 21 shows two circles, one for the view itself and another inside:

The height and background color are set using the code:

view.setElevation(getResources().getDimensionPixelSize(R.dimen.fab_elevation_lollipop));
view.setBackgroundColor(Color.parseColor("#99fe0038"));

      

        
        
        
      

    

Without adjusting the height, everything looks as expected.

Is this an Android bug or am I missing something?