The answer depends on 1) the company you are applying to and 2) the nature of the positions.
If the two roles are similar and your background makes you a good fit for both of them, it is perfectly fine. However, if the two roles are very different in terms of job responsibilities, you may come across as lacking focus, not sure of what you want and is applying for jobs without giving much thought to how each of them adds value to your career. In the worst case, you may be perceived as desperate and this is definitely a red flag for the employer. Hence, I would advise candidates to apply for multiple roles with the same company only when they are truly a good match for the roles.
When you meet the hiring manager during the job interview, you should also mention that you have applied for multiple openings so he/she will not be caught by surprise. Be clear and firm about how your background and qualification match the roles you have applied for. This way, you will dispel any doubt the hiring manager might have and come across as a stronger candidate.
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