Windows freeze when running Android emulator from Android Studio 2.3

I am using Android Studio in Windows 7. Whenever I start my AVD in Android Studio it freezes all my windows and then I have to reset my computer. It happens every time I start my virtual device. Before starting the virtual device everything works fine in Android Studio.

My system:

• Windows: Windows 7 Ultimate Service Pack 1
• RAM: 8GB
• CPU: Intel i5 6500 Skylake
• Android Studio 2.3 Build #AI-162.3764568, built on February 24, 2017
• JRE: 1.8.0_112-release-b06 amd64
• JVM: OpenJDK 64-Bit Server VM by JetBrains

s.r.o I have latest SDK and AVD installed. I also have Intel HAXM installed. The images I have tried to run on Android emulator are Android 5.1, x86/x86_64/armeabi. I have also played games for longer duration, so there is no CPU heating or anything.

Adding logs just before the system freezes after starting the AVD from Android Studio.

2017-03-24 12:16:08,284 [ 437243]   INFO - tools.idea.ddms.adb.AdbService - Initializing adb using: D:\Android\sdk\platform-tools\adb.exe, client support = true 
2017-03-24 12:16:13,454 [ 442413]   INFO - tools.idea.ddms.adb.AdbService - Successfully connected to adb 
2017-03-24 12:16:25,560 [ 454519]   WARN - run.EmulatorConnectionListener - Emulator not ready yet, dev.bootcomplete = null 
2017-03-24 12:16:26,597 [ 455556]   WARN - run.EmulatorConnectionListener - Emulator not ready yet, dev.bootcomplete = null 
2017-03-24 12:16:27,607 [ 456566]   WARN - run.EmulatorConnectionListener - Emulator not ready yet, dev.bootcomplete = null 
2017-03-24 12:16:28,618 [ 457577]   WARN - run.EmulatorConnectionListener - Emulator not ready yet, dev.bootcomplete = null