Garmin 740s with standand transducer, on occasion the depth display begins to flash, . The only way to get it to stop is too shut off the GPs and turn it back on, Transducer is to starboard of motor on Bennington mount where prop wash is presumably at minimum,
Yes, there are two adjustments, one is the single bolt that connects the two pieces of the transducer, the other are the two mounting screws that mount the transducer to the pontoon. I'd try the bolt Carl mentions first, (which I did, but didn't work for me after trying several different positions). If that doesn't work, then loosen the screws and lower the entire assembly just a little at a time until it works. You don't want it any lower than it needs to be to work, our you'll knock it off if you hit something.
And don't ever back the boat to the shore. Did it once to deal with a prop issue and broke the bracket for the transducer. Thanks to JB weld it is still there but no adjustment now.