Yes, orioles do migrate much like many species of birds. During the winter, orioles tend to fly south to Mexico and Central America. This means that you will start to see them in the spring when the weather gets warmer.
In southern states, you typically see orioles around April. Although they may arrive a little sooner or later depending on the temperatures. By May, orioles can be found in much of the US. This means if you want to get started on putting out the feeders, it is best to begin at least a month ahead of time. So, for the southern US you’ll probably want to get out the feeder by the end of February. For the northern areas, by the middle of March.
There are maps available that will let you know the expected arrival dates of the orioles but remember that you want to beat those dates by several weeks to maximize your chances of success. Plus, orioles are not affected by the cold, but by the lack of food. If you can keep feeders out for the winter months, many orioles will stay.