A power factor correction (PFC) circuit includes a first inductor, which is operably supplied with an input voltage and an input current. The input voltage is a rectified AC line voltage. A semiconductor switch has a load current path coupled in series with the first inductor. An output terminal is coupled to the inductor and operably providing an output voltage and an output current. A controller circuit controls the cyclic switching operation of the semiconductor switch. The controller circuit is configured to monitor a feedback signal representing the voltage drop across the load current path of the semiconductor switch, to detect at least one local minimum in the feedback signal while the semiconductor switch is off, and to switch on the semiconductor switch in response to detecting the N-th local minimum in the feedback signal.