For modern software developers in today's world, is there such a thing as having too much experience with a certain technology or programming language?

To a recruiter, interviewer, or company hiring-- could there often be cases where a particular candidate has so much experience in a certain area or technology where it works against the candidate to being hired?

I'm not talking about cases where a senior developer is applying for an entry-level developer position, and has a lot of experience in that sense. Nor am I talking about cases where a candidate is outright lying (e.g. 20+ years experience with Ruby on Rails).

I've overheard this in conversations between hiring managers/developers during happy hours, yet I'm not quite sure I fully understand what they mean.