Look here:
Line segment / Circle intersection
If the value you get under the square root of either the computation of x or y is negative, then the segment does not intersect. Aside from that, you can stop your computation after you have x and y (note: you may get two answers)
Update I've revised my answer to very specifically address your problem. I give credit to Doswa for this solution, as I pretty much followed along and wrote it for C#. The basic strategy is that we are going to locate the closest point of your line segment to the center of the circle. Based on that, we'll look at the distance of that closest point, and if it is within the radius, locate the point along the direction to the closest point that lies right at the radius of the circle.
// I'll bet you already have one of these.
public class Vec : Tuple<double, double>
{
public Vec(double item1, double item2) : base(item1, item2) { }
public double Dot(Vec other)
{ return Item1*other.Item1 + Item2*other.Item2; }
public static Vec operator-(Vec first, Vec second)
{ return new Vec(first.Item1 - second.Item1, first.Item2 - second.Item2);}
public static Vec operator+(Vec first, Vec second)
{ return new Vec(first.Item1 + second.Item1, first.Item2 + second.Item2);}
public static Vec operator*(double first, Vec second)
{ return new Vec(first * second.Item1, first * second.Item2);}
public double Length() { return Math.Sqrt(Dot(this)); }
public Vec Normalize() { return (1 / Length()) * this; }
}
public bool IntersectCircle(Vec origin, Vec lineStart,
Vec lineEnd, Vec circle, double radius, out Vec circleWhenHit)
{
circleWhenHit = null;
// find the closest point on the line segment to the center of the circle
var line = lineEnd - lineStart;
var lineLength = line.Length();
var lineNorm = (1/lineLength)*line;
var segmentToCircle = circle - lineStart;
var closestPointOnSegment = segmentToCircle.Dot(line) / lineLength;
// Special cases where the closest point happens to be the end points
Vec closest;
if (closestPointOnSegment < 0) closest = lineStart;
else if (closestPointOnSegment > lineLength) closest = lineEnd;
else closest = lineStart + closestPointOnSegment*lineNorm;
// Find that distance. If it is less than the radius, then we
// are within the circle
var distanceFromClosest = circle - closest;
var distanceFromClosestLength = distanceFromClosest.Length();
if (distanceFromClosestLength > radius) return false;
// So find the distance that places the intersection point right at
// the radius. This is the center of the circle at the time of collision
// and is different than the result from Doswa
var offset = (radius - distanceFromClosestLength) *
((1/distanceFromClosestLength)*distanceFromClosest);
circleWhenHit = circle - offset;
return true;
}