The super (possibly over) simplified definition is just that << is used for “times 2” and >> is for “divided by 2” – and the number after it is how many times.
So n << x is “n times 2, x times”. And y >> z is “y divided by 2, z times”.
For example, 1 << 5 is “1 times 2, 5 times” or 32. And 32 >> 5 is “32 divided by 2, 5 times” or 1.