Yes, this is the intended behaviour. However, it sounds like you don't like it jumping the top of the file when a forward search ends? After testing it out, I think it might make more sense for it to stay at the last found item. This is actually the way that Notepad++ works, which is what I was modelling the behaviour on. This change will be in the next beta.
I'm not a big fan of that behavior, it's only good when replacing and at least one match was found, to indicate there's no more match. Will it keep beeping in this case to indicate there's no more match, while staying at current position? This should also mean that shift + f3 will then work.
