All names have specific meanings (well not crazy made-up ghetto names that aren't spelled the same way twice). Most people just don't pay any attention to them. Even people in Asia don't spend much time thinking about what the characters that make up their names *mean*, it's just, you know, their name.
There are any number of websites that can tell you what most common (and some rather uncommon) Western names mean.
From a writer's perspective, though, paying attention to what names mean is always a good idea. Parents might not care (they might figure it just sounds good or maybe it was a favorite relative's or role model's name), but a writer can use names to indicate things about a character.